Terms Used In Iowa Code 496C.3

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
 The Iowa business corporation Act, chapter 490, shall be construed as part of 496C chapter and shall apply to professional corporations, including, but not limited to, their organization, reports, fees, authority, powers, rights, and the regulation and conduct of their affairs. The provisions of the Iowa business corporation Act, chapter 490, on foreign corporations shall apply to foreign professional corporations. The provisions of 496C chapter shall prevail over any inconsistent provisions of the Iowa business corporation Act, chapter 490, or any other law.