Category Archives: Partnership

PART II – 2013 Law Eliminates Statutory Authority to Recover Attorneys’ Fees in Derivative Litigation

Posted on May 18, 2013 by

PART II – 2013 Changes to the Iowa Business Corporation Act. This post addresses yet another substantive change to Iowa law – as adopted by the 2013 legislature – and which relates to the ability to recover reasonable attorneys fees … Continue reading →

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PART I – A Director’s Fiduciary Duty to Question and Disclose Information?

Posted on May 17, 2013 by

PART I – 2013 Changes to the Iowa Business Corporation Act. This post is the first in a series of posts that will address several changes to the Iowa Business Corporation Act (Iowa Code Chapter 490) as approved by the … Continue reading →

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Governor Branstad Approves Changes to Iowa’s Business Corporation Act

Posted on May 15, 2013 by

As originally noted here, on March 6, 2013 a bill was introduced in the Iowa legislature to enact several changes to Iowa’s Business Corporation Act (Iowa Code Chapter 490).  After receiving unanimous approval from both the Iowa House of Representatives … Continue reading →

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Changes to the Iowa Model Business Corporation Act?

Posted on March 6, 2013 by

In the 2013 Legislative Session (the 85th General Assembly), which began January 14, 2013, Iowa Legislators introduced new legislation that proposes several changes to Iowa’s Model Business Corporation Act.  As of March 6, 2013, the bill, HSB143, has been introduced, … Continue reading →

Posted in Business Owner, Director, Intra-corporate dispute, Litigation, Manager, Member, New Law, Officer, Partners, Partnership, Shareholder | Tagged , , , , , | 1 Comment

Does the Lack of a Succession Plan Constitute a Breach of Fiduciary Duty?

Posted on July 26, 2012 by

On June 21, 2012, in response to Plaintiff alleging HP’s Board of Directors breached their fiduciary duties to the company and its shareholders by failing to implement a succession plan, the Delaware Court of Chancery explained that it is “not … Continue reading →

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10 Characteristics of Shareholder Oppression in an Iowa Business – The Iowa Court of Appeals Explains

Posted on January 29, 2012 by

       In Heidecker Farms, Inc. v. Heidecker, the Iowa Court of Appeals identified several different actions / inactions that may arise to shareholder oppression in Iowa.  The court began by explaining shareholder oppression generally, stating: “Oppressive conduct ‘is an … Continue reading →

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Business Partnerships in Iowa – Potential Inadvertent Legal Relationships

Posted on January 22, 2012 by

Are you a sole proprietor simply conducting business with another person?  Or, is that “person” actually your partner in a legally recognized partnership?  While you may not believe you are a partner in a partnership with that “person,” surprise, a … Continue reading →

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