Iowa Code § 489.1007
Excluded entities and transactions
Redline — January 1, 2012 → current.View current text →
Current — January 1, 2025
As of January 1, 2012
1. Subject to section 489.1014, a plan of conversion must be consented to by all the members of a converting limited liability company.
2. Subject to section 489.1014 and any contractual rights, after a conversion is approved, and at any time before articles of conversion are delivered to the secretary of state for filing under section 489.1008, a converting limited liability company may amend the plan or abandon the conversion as follows:
a. As provided in the plan.
b. Except as otherwise prohibited in the plan, by the same consent as was required to approve the plan.
Referred to in
This subchapter shall not be used to effect a transaction involving a bank, insurance company, or public utility where any chapter governing the regulation of such entity does not permit the transaction.
Former §489.1007 stricken effective January 1, 2024, by
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.