Iowa Code 504.845 – Contract rights of officers
Current as of: 2023 | Check for updates
|
Other versions
1. The appointment of an officer of a corporation does not itself create contract rights.
Terms Used In Iowa Code 504.845
- Contract: A legal written agreement that becomes binding when signed.
- 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. An officer’s removal does not affect the officer’s contract rights, if any, with the corporation. An officer’s resignation does not affect the corporation’s contract rights, if any, with the officer.