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Current as of January 01, 2024 | Updated by FindLaw Staff
1. An officer may resign at any time by delivering a written notice to the board of directors, or its chair, or to the appointing officer or the secretary. A resignation is effective as provided in section 490.141, subsection 9, unless the notice provides for a delayed effectiveness, including effectiveness determined upon a future event or events. If effectiveness of a resignation is stated to be delayed and the board of directors or the appointing officer accepts the delay, the board of directors or the appointing officer may fill the pending vacancy before the delayed effectiveness but the new officer shall not take office until the vacancy occurs.
2. An officer may be removed at any time with or without cause by any of the following:
a. The board of directors.
b. The appointing officer, unless the bylaws or the board of directors provide otherwise.
c. Any other officer if authorized by the bylaws or the board of directors.
3. As used in this section, “appointing officer” means the officer, including any successor to that officer, who appointed the officer resigning or being removed.
Cite this article: FindLaw.com - Iowa Code Title XII. Business Entities [Chs. 486-504C] § 490.843. Resignation and removal of officers - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-xii-business-entities-chs-486-504c/ia-code-sect-490-843/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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