Iowa Code 491.62 – Indemnity — contribution
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Terms Used In Iowa Code 491.62
- 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.
- property: includes personal and real property. See Iowa Code 4.1
When the property of a stockholder is taken for a corporate debt, the stockholder may maintain an action against the corporation for indemnity, and against any of the other stockholders for contribution.