1. A limited liability company is an entity distinct from its members.
2. A limited liability company may have any lawful purpose, regardless of whether for profit.
3. A limited liability company has perpetual duration.
Iowa Code § 489.104
Nature, purpose, and duration of limited liability company
Showing this section's text as in effect on January 1, 2012 (in force January 1, 2012 – January 1, 2024). View current text →
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.