Iowa Code 520.11 – Implied powers of corporations
Current as of: 2024 | Check for updates
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Terms Used In Iowa Code 520.11
- 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.
- 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
520.11 Implied powers of corporations.
Any corporation organized under the laws of this state shall, in addition to the rights,
powers, and franchises specified in its articles of incorporation, have full power and authority to exchange insurance contracts of the kind and character mentioned in this chapter. The right to exchange such contracts is hereby declared to be incidental to the purposes for which such corporations are organized and as fully granted as the rights and powers expressly conferred.
[C24, 27, 31, 35, 39, §9093; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §520.11]
2021 Acts, ch 80, §333
Referred to in §520.14
Any corporation organized under the laws of this state shall, in addition to the rights,
powers, and franchises specified in its articles of incorporation, have full power and authority to exchange insurance contracts of the kind and character mentioned in this chapter. The right to exchange such contracts is hereby declared to be incidental to the purposes for which such corporations are organized and as fully granted as the rights and powers expressly conferred.
[C24, 27, 31, 35, 39, §9093; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §520.11]
2021 Acts, ch 80, §333
Referred to in §520.14