Iowa Code § 524.533 - Notice of shareholder meetings — waiver of notice generally
AI-assisted research summary: This provision requires written notice of shareholder meetings, allows shareholders to waive notice, and treats attendance as waiving certain notice objections.
1. Written notice stating the place, day, and hour of a meeting of the shareholders and, in case of a special meeting, the purpose or purposes for which the meeting is called, shall be delivered not less than ten nor more than sixty days before the date of the meeting, by or at the direction of the president, the cashier, or the officer or persons calling the meeting, to each shareholder of record entitled to vote at the meeting. As used in this section, the term “notice” means as defined in section 490.141. The written notice required by this section may be given by any method of delivery that is permitted in section 490.141, and the notice shall be deemed to be delivered when the notice becomes effective pursuant to section 490.141, subsection 9. 2. A shareholder may waive any notice required by this chapter, the articles of incorporation, or bylaws before or after the date and time stated in the notice. The waiver must be in writing, be signed by the shareholder entitled to the notice, and be delivered to the state bank for inclusion in the minutes or filing with the corporate records. 3. A shareholder’s attendance at a meeting results in all of the following: a. Waives the shareholder’s objection to lack of notice or defective notice of the meeting, unless the shareholder at the beginning of the meeting objects to holding the meeting or transacting business at the meeting. b. Waives the shareholder’s objection to consideration of a particular matter at the meeting that is not within the purpose or purposes described in the meeting notice, unless the shareholder objects to considering the matter when it is presented. 4. Unless the articles of incorporation or bylaws provide otherwise, the shareholders may permit any or all shareholders to participate in a regular or special meeting by, or conduct the meeting through the use of, any means of communication by which all shareholders participating may simultaneously hear each other during the meeting. A shareholder participating in a meeting as provided in this subsection is deemed to be present in person at the meeting. [C71, 73, 75, 77, 79, 81, §524.509] 95 Acts, ch 148, §49 CS95, §524.533 2022 Acts, ch 1062, §49; 2023 Acts, ch 29, §1 Referred to in §524.532, 524.1502, 524.1508