2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.624 - SHARE OPTIONS.

        490.624  SHARE OPTIONS.
         1.  A corporation may issue rights, options, or warrants for the
      purchase of shares or other securities of the corporation.  The board
      of directors shall determine (i) the terms upon which the rights,
      options, or warrants are issued, and (ii) the terms, including the
      consideration for which the shares or other securities are to be
      issued.  The authorization by the board of directors for the
      corporation to issue such rights, options, or warrants constitutes
      authorization of the issuance of the shares or other securities for
      which the rights, options, or warrants are exercisable.
         2.  The terms and conditions of such rights, options, or warrants,
      including those outstanding on July 1, 1989, may include, without
      limitation, restrictions, or conditions that do any of the following:

         a.  Preclude or limit the exercise, transfer, or receipt of
      such rights, options, or warrants by any person or persons owning or
      offering to acquire a specified number or percentage of the
      outstanding shares or other securities of the corporation or by any
      transferee or transferees of any such person or persons.
         b.  Invalidate or void such rights, options, or warrants held
      by any such person or persons or any such transferee or transferees.
      

         89 Acts, ch 288, §44; 2007 Acts, ch 140, §6; 2008 Acts, ch 1031,
      §55, 116
         Referred to in § 534.508