Article VIII — Corporations
12 sections · 0 paragraphs in this article.
Iowa Const. art. VIII, § 1 How Created
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No corporation shall be created by special laws; but the general assembly shall provide, by general laws, for the organization of all corporations hereafter to be created, except as hereinafter provided.
Iowa Const. art. VIII, § 2 Taxation of Corporations
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The property of all corporations for pecuniary profit, shall be subject to taxation, the same as that of individuals.
Iowa Const. art. VIII, § 3 State Not to Be a Stockholder
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The state shall not become a stockholder in any corporation, nor shall it assume or pay the debt or liability of any corporation, unless incurred in time of war for the benefit of the state.
Iowa Const. art. VIII, § 4 Municipal Corporations
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No political or municipal corporation shall become a stockholder in any banking corporation, directly or indirectly.
Iowa Const. art. VIII, § 5 Banking Associations
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No act of the general assembly, authorizing or creating corporations or associations with banking powers, nor amendments thereto shall take effect, or in any manner be in force, until the same shall have been submitted, separately, to the people, at a general or special election,…
Iowa Const. art. VIII, § 6 State Bank
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Subject to the provisions of the foregoing section, the general assembly may also provide for the establishment of a state bank with branches.
Iowa Const. art. VIII, § 7 Specie Basis
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If a state bank be established, it shall be founded on an actual specie basis, and the branches shall be mutually responsible for each other's liabilities upon all notes, bills, and other issues intended for circulation as money.
Iowa Const. art. VIII, § 8 General Banking Law
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If a general banking law shall be enacted, it shall provide for the registry and countersigning, by an officer of state, of all bills, or paper credit designed to circulate as money, and require security to the full amount thereof, to be deposited with the state treasurer, in Uni…
Iowa Const. art. VIII, § 9 Stockholders' Responsibility
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Every stockholder in a banking corporation or institution shall be individually responsible and liable to its creditors, over and above the amount of stock by him or her held, to an amount equal to his or her respective shares so held for all of its liabilities, accruing while he…
Iowa Const. art. VIII, § 10 Billholders Preferred
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In case of the insolvency of any banking institution, the billholders shall have a preference over its other creditors.
Iowa Const. art. VIII, § 11 Specie Payments--Suspension
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The suspension of specie payments by banking institutions shall never be permitted or sanctioned.
Iowa Const. art. VIII, § 12 Amendment or Repeal of Laws--Exclusive Privileges
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Subject to the provisions of this article, the general assembly shall have power to amend or repeal all laws for the organization or creation of corporations, or granting of special or exclusive privileges or immunities, by a vote of two thirds of each branch of the general assem…