{"data":{"id":"us-ia/iowa-code-490.622","jurisdiction":"us-ia","citation":"Iowa Code § 490.622","heading":"Liability of shareholders.","body":"1. A purchaser from a corporation of the corporation’s own shares is not liable to the corporation or its creditors with respect to the shares except to pay the consideration for which the shares were authorized to be issued or specified in the subscription agreement.\n2. A shareholder of a corporation is not personally liable for any liabilities of the corporation, including liabilities arising from acts of the corporation, subject to the following exceptions:\na. To the extent provided in a provision of the articles of incorporation permitted by section 490.202, subsection 2, paragraph “b”, subparagraph (5).\nb. A shareholder may become personally liable by reason of the shareholder’s own acts or conduct.","path":["Title XII - BUSINESS ENTITIES (Ch. 486 - 504C)","Chapter 490 - BUSINESS CORPORATIONS","Subchapter VI - SHARES AND DISTRIBUTIONS","Part 2 - ISSUANCE OF SHARES"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/490.622.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:12Z","sha256":"641e97e90ffab668548e007360c66c160d05a0915f0ceb80af6e531f3e8f3940","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-490.621","next":"us-ia/iowa-code-490.623"},"notice":"GroundRules: Original legal text. Not legal advice."}