{"data":{"id":"us-ia/iowa-code-504.304","jurisdiction":"us-ia","citation":"Iowa Code § 504.304","heading":"Ultra vires.","body":"1. Except as provided in subsection 2, the validity of corporate action shall not be challenged on the ground that the corporation lacks or lacked power to act.\n2. A corporation’s power to act may be challenged in a proceeding against the corporation to enjoin an act when a third party has not acquired rights. The proceeding may be brought by the attorney general, a director, or by a member or members in a derivative proceeding.\n3. A corporation’s power to act may be challenged in a proceeding against an incumbent or former director, officer, employee, or agent of the corporation. The proceeding may be brought by a director, the corporation, directly, derivatively, or through a receiver, a trustee or other legal representative, or in the case of a public benefit corporation, by the attorney general.","path":["Title XII - BUSINESS ENTITIES (Ch. 486 - 504C)","Chapter 504 - REVISED IOWA NONPROFIT CORPORATION ACT","Subchapter III - PURPOSES AND POWERS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/504.304.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:12Z","sha256":"e2a1730b3572c4efbc69a70f92e7df518dd4b7f071aed61c894e5c5ab98f8b18","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-504.303","next":"us-ia/iowa-code-504.305"},"notice":"GroundRules: Original legal text. Not legal advice."}