House Journal: Page 1358: Thursday, April 11, 2002
Page 4
1 or more members of a national or affiliated securities
2 association. If the agreement ceases to be effective
3 for any reason, the board of directors may, if the
4 agreement is contained or referred to in the
5 corporation's articles of incorporation or bylaws,
6 adopt an amendment to the articles of incorporation or
7 bylaws, without shareholder action, to delete the
8 agreement and any references to it.
9 Sec. . Section 490.853, subsection 3,
10 unnumbered paragraph 1, if enacted by 2002 Iowa Acts,
11 House File 2509, section 47, is amended to read as
12 follows:
13 Authorizations under this section shall be made
14 according to the one of the following:
15 Sec. . Section 490.1003, subsection 2, if
16 enacted by 2002 Iowa Acts, House File 2509, section
17 56, is amended to read as follows:
18 2. Except as provided in section sections
19 490.1005, 490.1007, and 490.1008, after adopting the
20 proposed amendment, the board of directors must submit
21 the amendment to the shareholders for their approval.
22 The board of directors must also transmit to the
23 shareholders a recommendation that the shareholders
24 approved the amendment, unless the board of directors
25 makes a determination that because of conflicts of
26 interest or other special circumstances it should not
27 make such a recommendation, in which case the board of
28 directors must transmit to the shareholders the basis
29 for the determination.
30 Sec. . Section 490.1303, subsection 2,
31 paragraph b, Code 2001, as amended by 2002 Iowa Acts,
32 House File 2509, section 80, if enacted, is amended to
33 read as follows:
34 b. Does so with respect to all shares of the class
35 of or series that are beneficially owned by the
36 beneficial shareholder."
37 10. Page 40, line 33, by inserting after the
38 figure "2531," the following: "section 12,".
39 11. Page 42, by inserting after line 24 the
40 following:
41 "Sec. . 2002 Iowa Acts, House File 2378,
42 section 10, subsection 1, if enacted, is amended to
43 read as follows:
44 1. Section 4 of this Act, amending section
45 15E.193C, subsections 2, 5, and 10, Code Supplement
46 2001, being deemed of immediate importance, takes
47 effect April 30, 2002, and, if approved by the
48 governor after April 30, 2002, shall apply
49 retroactively to April 30, 2002.
50 Sec. . 2002 Iowa Acts, Senate File 2275,
© 2002 Cornell College and
League of Women Voters of Iowa
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