Last week Senate File 2200 was signed by the Governor. This bill amends Iowa Code Section 490.1620 providing some relief from the current law that requires corporations to deliver financial statements to its shareholders. The revisions exempt corporations with fewer than 100 shareholders from delivering certain financial statements to its shareholders. A corporation must still deliver the financial statements to a shareholder who requests them. This should relieve most closely held corporations from the burden of preparing financial statements within a certain period of time, but it is still good practice to keep shareholders informed of the financial condition of the company.