Iowa Code 504.602 – Consideration
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Terms Used In Iowa Code 504.602
- articles: includes amended and restated articles of incorporation and articles of merger. 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
Except as provided in its articles or bylaws, a corporation may admit members for no consideration or for such consideration as is determined by the board.