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2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.742 - DEMAND.

        490.742  DEMAND.
         A shareholder shall not commence a derivative proceeding until
      both of the following have occurred:
         1.  A written demand has been made upon the corporation to take
      suitable action.
         2.  Ninety days have expired from the date the demand was made,
      unless the shareholder has earlier been notified that the demand has
      been rejected by the corporation or unless irreparable injury to the
      corporation would result by waiting for the expiration of the
      ninety-day period.
         Section History: Recent Form
         2002 Acts, ch 1154, §25, 125

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