492.2 Effect of violation.
Any certificate of stock issued, delivered, or transferred in violation of section 492.1 when the corporation has not received payment therefor at par in money or property at a valuation approved by the executive council, shall be void, and the issuance, delivery, or transfer of each certificate shall be considered a separate transaction.
[C24, 27, 31, 35, 39, §8409; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §492.2]
Referred to in §492.3, 492.4
Structure Iowa Code
Section 492.1 - Endorsement of amount paid.
Section 492.2 - Effect of violation.
Section 492.4 - Certain corporations excepted.
Section 492.5 - Par value required.
Section 492.6 - Payment in property other than cash.
Section 492.7 - Executive council to fix amount.
Section 492.8 - Elements considered in fixing amount.
Section 492.9 - Certificate of issuance of stock.
Section 492.10 - Cancellation of stock — reimbursement.