Iowa Code § 490.1409 (2026)
Director duties
1. Directors shall cause the dissolved corporation to discharge or make reasonable provision for the payment of claims and make distributions in liquidation of assets to shareholders after payment or provision for claims.
2. Directors of a dissolved corporation which has disposed of claims under section 490.1406, 490.1407, or 490.1408 shall not be liable for breach of subsection 1 with respect to\n\nTue Dec 09 22:07:44 2025 Iowa Code 2026, Chapter 490 (142, 1) 119 BUSINESS CORPORATIONS, §490.1422\n\nclaims against the dissolved corporation that are barred or satisfied under section 490.1406, 490.1407, or 490.1408. 2002 Acts, ch 1154, §96, 125; 2021 Acts, ch 165, §177, 230 Referred to in §490.832\n\n 490.1410 through 490.1419 Reserved.\n\n PART 2 ADMINISTRATIVE DISSOLUTION Referred to in §249A.40 \n