Statutes > Iowa Statutes > Title 12 - Business Entities > Subtitle 2 - Business and Professional Corporations and Companies > CHAPTER 491 - CORPORATIONS FOR PECUNIARY PROFIT > 491.63 - FRANCHISE SOLD ON EXECUTION.

491.63 - FRANCHISE SOLD ON EXECUTION.

        491.63  FRANCHISE SOLD ON EXECUTION.         The franchise of a corporation may be levied upon under execution      and sold, but the corporation shall not become thereby dissolved, and      no dissolution of the original corporation shall affect the      franchise, and the purchaser becomes vested with all the powers of      the corporation therefor.  Such franchise shall be sold without      appraisement.
         Section History: Early Form
         [C51, § 700; R60, § 1177; C73, § 1086; C97, § 1634; C24, 27, 31,      35, 39, § 8399; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81,      § 491.63]