2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.1431 - PROCEDURE FOR JUDICIAL DISSOLUTION.

        490.1431  PROCEDURE FOR JUDICIAL DISSOLUTION.
         1.  Venue for a proceeding by the attorney general to dissolve a
      corporation lies in Polk county.  Venue for a proceeding brought by
      any other party named in section 490.1430 lies in the county where a
      corporation's principal office or, if none in this state, its
      registered office is or was last located.
         2.  It is not necessary to make shareholders parties to a
      proceeding to dissolve a corporation unless relief is sought against
      them individually.
         3.  A court in a proceeding brought to dissolve a corporation may
      issue injunctions, appoint a receiver or custodian pendente lite with
      all powers and duties the court directs, take other action required
      to preserve the corporate assets wherever located, and carry on the
      business of the corporation until a full hearing can be held.
         4.  Within ten days of the commencement of a proceeding under
      section 490.1430, subsection 2, to dissolve a corporation that has no
      shares listed on a national securities exchange or regularly traded
      in a market maintained by one or more members of a national
      securities exchange, the corporation must send to all shareholders,
      other than the petitioner, a notice stating that the shareholders are
      entitled to avoid the dissolution of the corporation by electing to
      purchase the petitioner's shares under section 490.1434, and a copy
      of section 490.1434.  

         89 Acts, ch 288, §157; 2002 Acts, ch 1154, §97, 125