Section 504.1701 – Application to existing domestic corporations.
504.1701 Application to existing domestic corporations. 1. A domestic corporation that is incorporated under chapter 504A, Code 2005, is subject to this chapter beginning on July 1, 2005. 2. Prior to July 1, 2005, only the following corporations are subject to the provisions of this chapter: a. A corporation formed on or after January 1, […]
Section 504.1702 – Application to qualified foreign corporations.
504.1702 Application to qualified foreign corporations. A foreign corporation authorized to transact business in this state prior to January 1, 2005, is subject to this chapter beginning on July 1, 2005, but is not required to obtain a new certificate of authority to transact business under this chapter. 2004 Acts, ch 1049, §177, 192
Section 504.1703 – Savings provisions.
504.1703 Savings provisions. 1. Except as provided in subsection 2, the repeal of a statute by 2004 Acts, ch. 1049 , does not affect any of the following: a. The operation of the statute or any action taken under it before its repeal. b. Any ratification, right, remedy, privilege, obligation, or liability acquired, accrued, or […]
Section 504.1704 – Severability.
504.1704 Severability. If any provision of this chapter or its application to any person or circumstance is held invalid by a court of competent jurisdiction, the invalidity does not affect other provisions or applications of the chapter that can be given effect without the invalid provision or application, and to this end the provisions of […]
Section 504.1705 – Public benefit, mutual benefit, and religious corporations.
504.1705 Public benefit, mutual benefit, and religious corporations. For the purposes of this chapter, each domestic corporation shall be deemed a public benefit, mutual benefit, or religious corporation as follows: 1. A corporation designated by statute as a public benefit corporation, a mutual benefit corporation, or a religious corporation is deemed to be the type […]
Section 504B.1 – Corporations applicable.
504B.1 Corporations applicable. This chapter shall apply to every corporation organized under chapter 504, Code 1989, or current chapter 504, which corporation is deemed to be a private foundation as defined in section 509 of the Internal Revenue Code, which is incorporated in the state of Iowa after December 31, 1969, and as to any […]
Section 504B.2 – Articles of incorporation — contents.
504B.2 Articles of incorporation — contents. The articles of incorporation of every such corporation shall be deemed to contain provisions forbidding the corporation to: 1. Engage in any act of self-dealing, as defined in section 4941(d) of the Internal Revenue Code, which would give rise to any liability for the tax imposed by section 4941(a) […]
Section 504B.3 – Avoiding tax liability.
504B.3 Avoiding tax liability. The articles of incorporation of every such corporation shall be deemed to contain a provision requiring such corporation to distribute, for the purposes specified in its articles of incorporation, for each taxable year, amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of the Internal Revenue […]
Section 504B.4 – Construction.
504B.4 Construction. Nothing in this chapter shall impair the rights and powers of the courts or the attorney general of this state with respect to any corporation. [C73, 75, 77, 79, 81, §504B.4]
Section 504B.5 – Internal Revenue Code references.
504B.5 Internal Revenue Code references. All references to sections of the Internal Revenue Code shall mean the Code as defined in section 422.3. [C73, 75, 77, 79, 81, §504B.5] 2006 Acts, ch 1140, §8, 10, 11