Iowa Code 501A.503 – Articles of organization
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1.
Requirements.
a. The articles of organization for the cooperative shall include all of the following:
(1) The name of the cooperative.
(2) The purpose of the cooperative.
(3) The name and address of each organizer.
(4) The period of duration for the cooperative, if the duration is not to be perpetual.
(5) The street address of the cooperative’s initial registered office and the name of its registered agent at that office.
b. The articles may contain any other lawful provision.
Terms Used In Iowa Code 501A.503
- Address: means mailing address, including a zip code. See Iowa Code 501A.102
- Articles: means the articles of organization of a cooperative as originally filed or subsequently amended as provided in this chapter. See Iowa Code 501A.102
- Cooperative: means a business association organized under this chapter. See Iowa Code 501A.102
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Secretary: means the secretary of state. See Iowa Code 501A.102
- 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.
Effect of filing.
When the articles of organization or an application for a certificate of authority has been filed pursuant to subchapter II and the required fee has been paid to the secretary under section 501A.205, all of the following shall be presumed:
a. All conditions precedent that are required to be performed by the organizers have been complied with.
b. The organization of the cooperative has been organized under the laws of this state as a separate legal entity.
c. The secretary will issue an acknowledgment to the cooperative.