{"data":{"id":"us-ia/iowa-code-501.305","jurisdiction":"us-ia","citation":"Iowa Code § 501.305","heading":"Multiple membership prohibited.","body":"A person who is a member owning fifteen percent or more of a cooperative shall not be eligible to be a member of any other cooperative organized under this chapter. A person violating this section is subject to a civil penalty of not more than one hundred dollars. The person’s membership in a cooperative shall terminate if the person’s acquisition of an interest in that cooperative caused the person to be in violation of this section.","path":["Title XII - BUSINESS ENTITIES (Ch. 486 - 504C)","Chapter 501 - CLOSED COOPERATIVES","Subchapter III - MEMBERS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/501.305.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:12Z","sha256":"c72729c7f9211b2e2c73d20292f98524ac726f5639930d41e767288e92ef8893","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-501.304","next":"us-ia/iowa-code-501.306"},"notice":"GroundRules: Original legal text. Not legal advice."}