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Iowa Code Title XII. Business Entities [Chs. 486-504C] § 497.18. Educational fund--dividends

Current as of January 01, 2024 | Updated by Findlaw Staff

The board may each year, out of remaining net profits, subject to the approval of the association at any general or special meeting:

1. Provide an educational fund to be used in teaching cooperation, not exceeding five percent of the net profits.

2. Declare and pay a dividend on the stock, not exceeding ten percent.

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Cite this article: FindLaw.com - Iowa Code Title XII. Business Entities [Chs. 486-504C] § 497.18. Educational fund--dividends - last updated January 01, 2024 | https://codes.findlaw.com/ia/title-xii-business-entities-chs-486-504c/ia-code-sect-497-18/

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