It shall be unlawful for any such beneficial owner, director or officer, directly or indirectly, to sell any equity security of such company if the person selling the security or the person's principal does not own the security sold, or if owning the security, does not deliver it against such sale within twenty days thereafter, or does not within five days after such sale deposit it in the mails or other usual channels of transportation; but no person shall be deemed to have violated this section if the person proves that notwithstanding the exercise of good faith the person was unable to make such delivery or deposit within such time, or that to do so would cause undue inconvenience or expense.
[C66, 71, 73, 75, 77, 79, 81, § 523.9]
Referred to in § 523.10, 523.11, 523.12, 523.13, 523.14
Previous Section 523.8
Next Section 523.10
© 2000 Cornell College and League of Women Voters of Iowa
Comments about this site or page?
webmaster@legis.iowa.gov.
Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Wed Aug 16 21:03:56 CDT 2000
URL: /DOCS/IACODE/1999SUPPLEMENT/523/9.html
jhf