Iowa Code

Iowa Code § 490.740 (2026)

Part definitions

✓ current as of July 2026

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As used in this part:

1. “Derivative proceeding” means a civil suit in the right of a domestic corporation or, to the extent provided in section 490.747, in the right of a foreign corporation.

2. “Shareholder” means a record shareholder, a beneficial shareholder, and an unrestricted voting trust beneficial owner. 89 Acts, ch 288, §71; 2002 Acts, ch 1154, §23, 125; 2021 Acts, ch 165, §80, 230 \n

Notes of Decisions

Cited in 6 cases (2 in the last 5 years), 1994–2022 · leading case: Rieff v. Evans, 630 N.W.2d 278 (Iowa 2001).

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Rieff v. Evans, 630 N.W.2d 278 (Iowa 2001). · cites it 37× “Six amicus curiae briefs have been filed since the policyholders took their appeal to our court.”

Ezzone v. Riccardi, 525 N.W.2d 388 (Iowa 1994). · cites it 4× “Derivative suits on behalf of Iowa corporations are governed by Iowa Code § 490.740 (1993). Under that provision, certain procedures must first be followed before a shareholder is allowed to bring suit for a wrong done the corporation.”

Webster Indus., Inc. v. Northwood Doors, Inc., 234 F. Supp. 2d 981 (N.D. Iowa 2002). · cites it 6× “2d 348, 365-66 (Iowa 1972), Iowa Code § 490.740 (2000), and Nachazel v.”

Foslip Pharm., Inc. v. Metabolife Int'l, Inc., 92 F. Supp. 2d 891 (N.D. Iowa 2000). · cites it 2× “In Ezzone , the Iowa Supreme Court noted that suits on behalf of an Iowa corporation are governed by iowa Code § 490.740, which establishes certain procedures that must be followed before a shareholder is allowed to bring suit for a wrong done to the corporation, including a…”

Susan A. Guge & Peggy McDonald v. Kassel Enter., Inc. (Iowa 2021). · cites it 2× “; see also Iowa Code § 490.740 (1) (defining “derivative proceeding”).”

Kendall J. Meade, Individually & on behalf of all others similarly situated v. Peter S. Christie, Stephen A. Crane, Jonathan R. Fletcher, & Gretchen H. Tegeler (Iowa 2022). “831 (2019), did not protect the directors against his claims; and (2) that Meade’s claims were derivative, not direct, and thus could not be brought unless Meade had complied with our statutory requirements for derivative proceedings, 9 id.”

— Iowa Code § 490.740(1) — 1 case

Rieff v. Evans, 630 N.W.2d 278 (Iowa 2001). “Six amicus curiae briefs have been filed since the policyholders took their appeal to our court.”

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