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2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.1409 - DIRECTOR DUTIES.

        490.1409  DIRECTOR DUTIES.
         1.  Directors shall cause the dissolved corporation to discharge
      or make reasonable provision for the payment of claims and make
      distributions of assets to shareholders after payment or provision
      for claims.
         2.  Directors of a dissolved corporation which has disposed of
      claims under section 490.1406, 490.1407, or 490.1408 shall not be
      liable for breach of subsection 1, with respect to claims against the
      dissolved corporation that are barred or satisfied under section
      490.1406, 490.1407, or 490.1408.
         Section History: Recent Form
         2002 Acts, ch 1154, §96, 125
         Referred to in § 490.833

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