{"data":{"id":"us-ia/iowa-code-489.1003","jurisdiction":"us-ia","citation":"Iowa Code § 489.1003","heading":"Required notice or approval.","body":"1. A domestic or foreign entity that is required to give notice to, or obtain the approval of, a governmental agency or officer of this state to be a party to a merger must give the notice or obtain the approval to be a party to an interest exchange, conversion, or domestication.\n2. Property held for a charitable purpose under the law of this state by a domestic or foreign entity immediately before a transaction under this subchapter becomes effective may be diverted from the objects for which it was donated, granted, devised, or otherwise transferred only to the extent a public benefit corporation is able to divert from such objects under chapter 504.\n3. A bequest, devise, gift, grant, or promise contained in a will or other instrument of donation, subscription, or conveyance which is made to a merging entity that is not the surviving entity and which takes effect or remains payable after the merger inures to the surviving entity.\n4. A trust obligation that would govern property if transferred to a nonsurviving entity applies to property that is transferred to the surviving entity under this section.","path":["Title XII - BUSINESS ENTITIES (Ch. 486 - 504C)","Chapter 489 - UNIFORM LIMITED LIABILITY COMPANY ACT","Subchapter X - MERGER, INTEREST EXCHANGE, CONVERSION, AND DOMESTICATION","Part 1 - GENERAL PROVISIONS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/489.1003.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:12Z","sha256":"0c39ce9e2ce27e1938a59413762f3017b76fa2571031e4c982db54a538b1dff7","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-489.1002","next":"us-ia/iowa-code-489.1004"},"notice":"GroundRules: Original legal text. Not legal advice."}