Statutes > Iowa Statutes > Title 12 - Business Entities > Subtitle 5 - Nonprofit Corporations > CHAPTER 504 - REVISED IOWA NONPROFIT CORPORATION ACT > 504.204 - LIABILITY FOR PREINCORPORATION TRANSACTIONS.

504.204 - LIABILITY FOR PREINCORPORATION TRANSACTIONS.

        504.204  LIABILITY FOR PREINCORPORATION      TRANSACTIONS.         All persons purporting to act as or on behalf of a corporation,      knowing there was no incorporation under this chapter, are jointly      and severally liable for all liabilities created while so acting.
         Section History: Recent Form
         2004 Acts, ch 1049, §20, 192