1. An action challenging the validity of a conversion plan, or any part of a conversion
plan, shall not be commenced more than thirty days following the date of approval
by the commissioner, unless an application for rehearing is filed pursuant to section 17A.16, subsection 2. If an application for rehearing is filed, then such action must be filed within
thirty days after that application is denied or deemed denied or, if the application
is granted, within thirty days after the issuance of the commissioner's final decision
2. The successor stock company or any defendant may require the plaintiff in such
an action to give security for the reasonable attorney fees which may be incurred
by any party to the action. The amount of the security may be increased or decreased in the discretion of the
court having jurisdiction if a showing is made that the security provided is or may
become inadequate or excessive.
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