Iowa Code » Chapter 636 — SURETIES — FIDUCIARIES — TRUSTS — INVESTMENTS
Iowa Code

Iowa Code § 636.22 (2026)

Estoppel — stockholders liable

✓ current as of July 2026
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Any company which shall execute any bond as surety under the provisions of this chapter shall be estopped, in any proceeding to enforce the liability which it shall have assumed to incur, to deny its corporate power to execute such instrument or assume such liability; and the private property of the stockholders shall be liable for the debts of the corporation to the full amount of the capital stock held by such stockholders. [C97, §363; C24, 27, 31, 35, 39, §12771; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §682.22] C93, §636.22\n\n SUBCHAPTER III INVESTMENT OF FUNDS

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Notes of Decisions
Cited in 5 cases, 1950–1982 · leading case: State v. Hansen, 55 N.W.2d 923 (Iowa 1952).
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State v. Hansen, 55 N.W.2d 923 (Iowa 1952). · cites it 2× “” (Now section 636.22, Code of 1950.) Affirming the rule announced in the Scanlon case pertaining, as it apparently does, to “private papers and notices between parties” is of no assistance to ap-pellee.”
Matter of Campbell, 319 N.W.2d 275 (Iowa 1982). · cites it 3× “§ 636.22, The Code. A surviving spouse does not have a third choice—to take some of both— except in the unusual case in which a will clearly and explicitly gives the surviving spouse that choice, which this will does not.”
Sefcik v. Sheker, 41 N.W.2d 709 (Iowa 1950). · cites it 2× “) Then follows an outline of procedure substantially as now appears in section 636.22 et seq., Code of 1946. It will be seen the beginning of the section remains unchanged : “The survivor’s share cannot he affected” by the will “unless consent thereto is given.”
Graf v. Wall, 319 N.W.2d 275 (Iowa 1982). · cites it 3× “§ 636.22, The Code. A surviving spouse does not have a third choice — to take some of both— except in the unusual case in which a will clearly and explicitly gives the surviving spouse that choice, which this will does not.”
Fryer v. United States, 399 F. Supp. 564 (S.D. Iowa 1975). · cites it 2× “is required to elect whether consent thereto will be given, which consent, when given, shall be in open court, or by a writing filed therein, which shall be entered on the paper records thereof; but if at the expiration of six months no such election has been made, it shall be…”
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