1. The incorporators or board of directors of a corporation shall adopt bylaws for the corporation.

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Terms Used In Iowa Code 504.206

  • articles: includes amended and restated articles of incorporation and articles of merger. See Iowa Code 504.141
  • board of directors: means the board of directors of a corporation except that no person or group of persons are the board of directors because of powers delegated to that person or group pursuant to section 504. See Iowa Code 504.141
  • Bylaws: means the code or codes of rules other than the articles adopted pursuant to this chapter for the regulation or management of the affairs of a corporation irrespective of the name or names by which such rules are designated. See Iowa Code 504.141
  • Corporation: means a public benefit, mutual benefit, or religious corporation. See Iowa Code 504.141
  • 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.
 2. The bylaws may contain any provision for regulating and managing the affairs of the corporation that is not inconsistent with law or the articles of incorporation.