Statutes > Iowa Statutes > Title 12 - Business Entities > Subtitle 2 - Business and Professional Corporations and Companies > CHAPTER 490 - BUSINESS CORPORATIONS > 490.631 - CORPORATION'S ACQUISITION OF ITS OWN SHARES.

490.631 - CORPORATION'S ACQUISITION OF ITS OWN SHARES.

        490.631  CORPORATION'S ACQUISITION OF ITS OWN      SHARES.         1.  A corporation may acquire its own shares and, except as may be      otherwise provided pursuant to section 490.632, shares so acquired      constitute authorized but unissued shares.         2.  If the articles of incorporation prohibit the reissue of the      acquired shares, the number of authorized shares is reduced by the      number of shares acquired.
         Section History: Recent Form
         89 Acts, ch 288, §51; 90 Acts, ch 1205, §23; 2002 Acts, ch 1154,      §12, 125         Referred to in § 490.1005