2014 Iowa Code
TITLE XII - BUSINESS ENTITIES
SUBTITLE 3 - ASSOCIATIONS
CHAPTER 497 - COOPERATIVE ASSOCIATIONS
SECTION 497.21 - Dissolution.
497.21 Dissolution.
If such association, for five consecutive years, shall fail to declare a dividend upon the shares of its paid-up capital, five or more stockholders, by petition, setting forth such fact, may apply to the district court of the county wherein is situated its principal place of business in this state, for its dissolution. If, upon hearing, the allegations of the petition are found to be true, the court may adjudge a dissolution of the association.
[SS15, §1641-r14; C24, 27, 31, 35, 39, §8479; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §497.21]
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