House Journal: Page 869: Tuesday, March 19, 2002
20 the sections are applicable to a director, officer,
21 employee, member, or volunteer of the cooperative
22 association organized under this chapter.
23 Sec. . Section 498.36, Code 2001, is amended to
24 read as follows:
25 498.36 INDEMNIFICATION.
26 A cooperative association operating under this
27 chapter may indemnify any present or former director,
28 officer, employee, member, or volunteer in the manner
29 and in the instances authorized in sections 490.850
30 through 490.858 490.859, provided that where sections
31 490.850 through 490.858 490.859 provide for action by
32 shareholders the sections are applicable to action by
33 voting members of the cooperative association, and
34 where sections 490.850 through 490.858 490.859 refer
35 to the corporation organized under chapter 490 the
36 sections are applicable to the cooperative association
37 organized under this chapter, and where sections
38 490.850 through 490.858 490.859 refer to the director
39 the sections are applicable to a director, officer,
40 employee, member, or volunteer of the cooperative
41 association organized under this chapter.
42 Sec. . Section 499.59A, Code 2001, is amended
43 to read as follows:
44 499.59A INDEMNIFICATION.
45 A cooperative association operating under this
46 chapter may indemnify any present or former director,
47 officer, employee, member, or volunteer in the manner
48 and in the instances authorized in sections 490.850
49 through 490.858 490.859, provided that where sections
50 490.850 through 490.858 490.859 provide for action by
Page 6
1 shareholders the sections are applicable to action by
2 voting members of the cooperative association, and
3 where sections 490.850 through 490.858 490.859 refer
4 to the corporation organized under chapter 490 the
5 sections are applicable to the cooperative association
6 organized under this chapter, and where sections
7 490.850 through 490.858 490.859 refer to the director
8 the sections are applicable to a director, officer,
9 employee, member, or volunteer of the cooperative
10 association organized under this chapter.
11 Sec. . Section 499.69A, subsections 4 and 7,
12 Code 2001, are amended to read as follows:
13 4. For a surviving cooperative association, a
14 qualified merger becomes effective upon the filing of
15 the articles of merger with the secretary of state and
16 the issuance of a certificate of merger pursuant to
17 section 499.68 or the date stated in the articles of
18 merger, whichever is later. For a surviving qualified
© 2002 Cornell College and
League of Women Voters of Iowa
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