Iowa Code 490.743 – Stay of proceedings
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Terms Used In Iowa Code 490.743
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- 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.
- Proceeding: includes a civil suit and criminal, administrative, and investigatory action. See Iowa Code 490.140
If the corporation commences an inquiry into the allegations made in the demand or complaint, the court may stay any derivative proceeding for such period as the court deems appropriate.