496C.16 Management.
All directors of a professional corporation and all officers of a professional corporation, except assistant officers, shall at all times be individuals who are licensed to practice in this state a profession, or a lawful combination of professions pursuant to section 496C.4, which the corporation is authorized to practice. However, upon the occurrence of any event that requires the corporation either to be dissolved or to elect to adopt the provisions of the Iowa business corporation Act, chapter 490, as provided in section 496C.19, provided the corporation ceases to practice the profession that the corporation is authorized to practice, as provided in section 496C.19, then individuals who are not licensed to practice in this state a profession that the corporation is authorized to practice may be appointed as officers and directors for the sole purpose of carrying out the dissolution of the corporation or, if applicable, the voluntary election of the corporation to adopt the provisions of the Iowa business corporation Act, as provided in section 496C.19.
[C71, 73, 75, 77, 79, 81, §496C.16]
2003 Acts, ch 66, §9; 2004 Acts, ch 1086, §79; 2010 Acts, ch 1131, §8
Structure Iowa Code
Chapter 496C - PROFESSIONAL CORPORATIONS
Section 496C.3 - Applicability of Iowa business corporation Act.
Section 496C.4 - Purposes and powers.
Section 496C.5 - Corporate name.
Section 496C.6 - Who may incorporate.
Section 496C.7 - Practice by professional corporation.
Section 496C.8 - Professional regulation.
Section 496C.9 - Relationship and liability to persons served.
Section 496C.10 - Issuance of shares.
Section 496C.11 - Transfer of shares.
Section 496C.12 - Convertible securities — stock rights and options.
Section 496C.13 - Voting trust — proxy.
Section 496C.14 - Required purchase by professional corporation of its own shares.
Section 496C.15 - Certificates representing shares.
Section 496C.18 - Merger or consolidation.
Section 496C.19 - Dissolution or liquidation.
Section 496C.20 - Foreign professional corporation.