Iowa Code

Iowa Code § 490.1324 (2026)

Payment

✓ current as of July 2026

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1. Except as provided in section 490.1325, within thirty days after the form required by section 490.1322, subsection 2, paragraph “b”, subparagraph (2), is due, the corporation shall pay in cash to those shareholders who complied with section 490.1323, subsection 1, the amount the corporation estimates to be the fair value of their shares, plus interest. 2. The payment to each shareholder pursuant to subsection 1 must be accompanied by all of the following: a. (1) Financial statements of the corporation that issued the shares to be appraised, consisting of a balance sheet as of the end of a fiscal year ending not more than sixteen months before the date of payment, an income statement for that year, and a cash flow\n\nTue Dec 09 22:07:44 2025 Iowa Code 2026, Chapter 490 (142, 1) §490.1324, BUSINESS CORPORATIONS 112\n\nstatement for that year; provided that, if such annual financial statements are not reasonably available, the corporation shall provide reasonably equivalent financial information. (2) The latest interim financial statements of such corporation, if any. b. A statement of the corporation’s estimate of the fair value of the shares, which estimate shall equal or exceed the corporation’s estimate given pursuant to section 490.1322, subsection 2, paragraph “b”, subparagraph (3). c. A statement that shareholders described in subsection 1 have the right to demand further payment under section 490.1326 and that if any such shareholder does not do so within the time period specified in section 490.1326, subsection 2, such shareholder shall be deemed to have accepted the payment under subsection 1 in full satisfaction of the corporation’s obligations under this subchapter. 89 Acts, ch 288, §138; 2002 Acts, ch 1154, §85, 125; 2003 Acts, ch 44, §87; 2013 Acts, ch 31, §63, 82; 2021 Acts, ch 165, §165, 230 Referred to in §490.1301, 490.1325, 490.1326, 490.1331

Notes of Decisions

Cited in 6 cases (2 in the last 5 years), 2007–2021 · leading case: Nw. Inv. Corp. v. Wallace, 741 N.W.2d 782 (Iowa 2007).

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Nw. Inv. Corp. v. Wallace, 741 N.W.2d 782 (Iowa 2007). · cites it 2× “It also gave the minority shareholders notice of their appraisal rights as required by Iowa Code section 490.1324 (2003). The minority shareholders made a timely demand for further payment under Iowa Code section 490.”

RV Cent., Inc. v. Stanley Vander Plaats (Iowa Ct. App. 2020). · cites it 2× “RV Central was required, under Iowa Code section 490.1324(1), to pay Stanley “the amount the corporation estimates to be the fair value of [his] shares, plus interest.”

EMC Ins. Grp., Inc. v. Gregory M. Shepard (Iowa 2021). · cites it 2× “See Iowa Code § 490.1324 (1) (requiring the corporation to pay the shareholder “within thirty days” of the appraisal deadline (emphasis added)).”

Nw. Inv. Corp. Vs. Emmett Lee Wallace, William R. Harvey & Helen I. Harvey (Iowa 2007). · cites it 2× “It also gave the minority shareholders notice of their appraisal rights as required by Iowa Code section 490.1324 (2003). The minority shareholders made a timely demand for further payment under Iowa Code section 490.”

Twc I, L.L.c, F/K/A the Weitz Co. I, Inc. & Twc II, L.L.C., F/K/A the Weitz Co. II, Inc., plaintiffs/counterclaim-defendants/appellees/cross-appellants v. Craig Damos, defendant/counterclaim-plaintiff/appellant/cross-appellee. (Iowa Ct. App. 2015). “§ 490.1324. If the shareholder is dissatisfied with the price, the shareholder can notify the corporation of the shareholder’s estimate as to the fair value and demand payment, less any payment already made.”

— Iowa Code § 490.1324(1) — 1 case

RV Cent., Inc. v. Stanley Vander Plaats (Iowa Ct. App. 2020). “RV Central was required, under Iowa Code section 490.1324(1), to pay Stanley “the amount the corporation estimates to be the fair value of [his] shares, plus interest.”

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