2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.603 - ISSUED AND OUTSTANDING SHARES.

        490.603  ISSUED AND OUTSTANDING SHARES.
         1.  A corporation may issue the number of shares of each class or
      series authorized by the articles of incorporation.  Shares that are
      issued are outstanding shares until they are reacquired, redeemed,
      converted, or canceled.
         2.  The reacquisition, redemption, or conversion of outstanding
      shares is subject to the limitations of subsection 3 and to section
      490.640.
         3.  At all times that shares of the corporation are outstanding,
      one or more shares that together have unlimited voting rights and one
      or more shares that together are entitled to receive the net assets
      of the corporation upon dissolution must be outstanding.  

         89 Acts, ch 288, §38
         Referred to in § 534.508