Liability of holder.

  1. Law
  2. Iowa Code
  3. BUSINESS ENTITIES
  4. STOCK WITHOUT PAR VALUE
  5. Liability of holder.

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493.5 Liability of holder.

Any and all shares without par value issued for the consideration as prescribed or fixed in section 493.4 shall be deemed fully paid and nonassessable and the holder of such shares shall not be liable to the corporation or to its creditors in respect thereto.

[C31, 35, §8419-c5; C39, §8419.05; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §493.5]


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