1. A foreign corporation shall not transactbusiness in thisstate untilit obtains acertificate of authority from the secretary of state. 2. The following activities, among others, do not constitute transacting business within the meaning of subsection 1: a. Maintaining, defending, or settling any proceeding. b. Holding meetings of the board of directors or members or carrying on other activities concerning internal corporate affairs. c. Maintaining bank accounts. d. Maintaining offices or agencies for the transfer, exchange, or registration of memberships or securities or maintaining trustees or depositaries with respect to those securities. e. Selling through independent contractors. f. Soliciting or obtaining orders, whether by mail or through employees or agents or otherwise, if the orders require acceptance outside this state before they become contracts. g. Creating or acquiring indebtedness, mortgages, or security interests in real or personal property. h. Securing or collecting debts or enforcing mortgages or security interests in property securing the debts. i. Owning, without more, real or personal property. j. Conducting an isolated transaction that is completed within thirty days and that isnot one in the course of repeated transactions of a like nature. k. Transacting business in interstate commerce.
‹ Prev All Iowa sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.