Iowa General Assembly Banner

501.102 Purposes and powers.

1. A cooperative organized under this chapter has the purpose of engaging in any lawful business unless a more limited purpose is set forth in the articles.

2. Unless its articles provide otherwise, a cooperative has perpetual duration and succession in its corporate name and has the same powers as an individual to do all things necessary or convenient to carry out its business and affairs, including, without limitation, all of the powers enumerated in sections 490.302 and 490.303.

Section History: Recent form

96 Acts, ch 1010, §4

Return To Home Iowa General Assembly

index Search: Iowa Code 1997

© 1997 Cornell College and League of Women Voters of Iowa


Last update: Mon Jan 27 16:05:08 CST 1997
URL: /DOCS/IACODE/1997/501/102.html