{"data":{"id":"us-ia/iowa-code-504.623","jurisdiction":"us-ia","citation":"Iowa Code § 504.623","heading":"Purchase of memberships.","body":"1. A public benefit or religious corporation shall not purchase any of its memberships or any right arising therefrom.\n2. A mutual benefit corporation may purchase the membership of a member who resigns or whose membership is terminated for the amount and pursuant to the conditions set forth in or authorized by its articles or bylaws. A payment shall not be made in violation of subchapter XIII.","path":["Title XII - BUSINESS ENTITIES (Ch. 486 - 504C)","Chapter 504 - REVISED IOWA NONPROFIT CORPORATION ACT","Subchapter VI - MEMBERS AND MEMBERSHIPS","Part 3 - RESIGNATION AND TERMINATION"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/504.623.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:12Z","sha256":"a805d88e1c5c3c65748ed94f22ff998acea1616755e0ddf2408577b370d17d69","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-504.622","next":"us-ia/iowa-code-504.624"},"notice":"GroundRules: Original legal text. Not legal advice."}