2009 Iowa Code
Title 12 - Business Entities
Subtitle 2 - Business and Professional Corporations and Companies
CHAPTER 490 - BUSINESS CORPORATIONS
490.721 - VOTING ENTITLEMENT OF SHARES.

        490.721  VOTING ENTITLEMENT OF SHARES.
         1.  Except as provided in subsections 2 and 3 or unless the
      articles of incorporation provide otherwise, each outstanding share,
      regardless of class, is entitled to one vote on each matter voted on
      at a shareholders' meeting.  Only shares are entitled to vote.
         2.  Absent special circumstances, the shares of a corporation are
      not entitled to vote if they are owned, directly or indirectly, by a
      second corporation, domestic or foreign, and the first corporation
      owns, directly or indirectly, a majority of the shares entitled to
      vote for directors of the second corporation.
         3.  Subsection 2 does not limit the power of a corporation to vote
      any shares, including its own shares, held by it in a fiduciary
      capacity.
         4.  Redeemable shares are not entitled to vote after notice of
      redemption is mailed to the holders and a sum sufficient to redeem
      the shares has been deposited with a bank, trust company, or other
      financial institution under an irrevocable obligation to pay the
      holders the redemption price on surrender of the shares.  
         Section History: Recent Form
         89 Acts, ch 288, §61
         Referred to in § 534.504

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