2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.602 - TERMS OF CLASS OR SERIES DETERMINED BY BOARD OF DIRECTORS.

        490.602  TERMS OF CLASS OR SERIES DETERMINED BY BOARD
      OF DIRECTORS.
         1.  If the articles of incorporation so provide, the board of
      directors is authorized, without shareholder approval, to do any of
      the following:
         a.  Classify any unissued shares into one or more series
      within a class.
         b.  Reclassify any unissued shares of any class into one or
      more classes or into one or more series within one or more classes.
         c.  Reclassify any unissued shares of any series of any class
      into one or more classes or into one or more series within a class.
         2.  If the board of directors acts pursuant to subsection 1, it
      must determine the terms, including the preferences, rights, and
      limitations, to the same extent permitted under section 490.601, of
      any of the following:
         a.  Any class of shares before the issuance of any shares of
      that class.
         b.  Any series within a class before the issuance of any
      shares of that series.
         3.  Before issuing any shares of a class or series created under
      this section, the corporation must deliver to the secretary of state
      for filing articles of amendment setting forth the terms determined
      under subsection 1.  

         89 Acts, ch 288, §37; 2007 Acts, ch 140, §5
         Referred to in § 490.1005, 534.501, 534.508