Section 501A.204. Correcting filed documents.

  1.  A domestic cooperative or foreign cooperative may correct a document filed by the secretary if the document satisfies any of the following requirements:

  a.  Contains an incorrect statement.

  b.  Was defectively executed, attested, sealed, verified, or acknowledged.

  2.  A document is corrected by complying with all of the following:

  a.  By preparing articles of correction that satisfy all of the following requirements:

  (1)  Describe the document, including its filing date, or attach a copy of the document to the articles.

  (2)  Specify the incorrect statement and the reason the statement is incorrect or the manner in which the execution was defective.

  (3)  Correct the incorrect statement or defective execution.

  b.  By delivering the articles of correction to the secretary for filing.

  3.  Articles of correction are effective on the effective date of the document the articles correct, except as to persons relying on the uncorrected document and adversely affected by the correction. As to those persons, articles of correction are effective when filed.

2005 Acts, ch 135, §7