Iowa Code 499.4 – Use of term “cooperative” restricted
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1. A person including a corporation hereafter organized, which is not an association as defined in this chapter or a cooperative as defined in chapter 501 or 501A, shall not use the word “cooperative” or any abbreviation thereof in its name or advertising or in any connection with its business, except foreign associations admitted under section 499.54. The attorney general or any association or any member thereof may sue and enjoin such use.
Terms Used In Iowa Code 499.4
- Association: means a corporation formed under this chapter. See Iowa Code 499.2
- cooperative association: means any of the following:a. See Iowa Code 499.43A
- 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.
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2. This chapter does not control the use of fictitious names. However, if a cooperative association or a foreign cooperative association uses a fictitious name in this state, the cooperative association or foreign cooperative association shall deliver to the secretary of state for filing a copy of the resolution of its board of directors, certified by its secretary, adopting the fictitious name.