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Section 499A.23 - Effect of documents and instruments.

IA Code § 499A.23 (2019) (N/A)
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499A.23 Effect of documents and instruments.

1. Unless amended or terminated by this chapter or by the following documents or instruments, all terms, conditions, covenants, and provisions contained in the following documents or instruments shall remain in full force and effect as long as the cooperative remains in existence:

a. The articles of incorporation of the cooperative and any amendments thereto.

b. The bylaws of the cooperative and any amendments thereto.

c. Any proprietary leases, contracts, or other agreements between the cooperative and a member of the cooperative or between members of the cooperative.

d. Any property interests created by any documents or instruments specified in paragraph “a”, “b”, or “c”.

2. A document or instrument specified in subsection 1, and any property interests created by such document or instrument, shall not be extinguished, limited, or impaired by application of section 558.68 or 614.24.

2014 Acts, ch 1095, §2, 6

Referred to in §558.68, 614.24

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