Nature, purpose, and duration of limited liability company
Known as the Uniform Limited Liability Company Act
The act spans §§ 489–489 (188 sections).
2008 Acts, ch 1162, §4, 155 2023 Acts, ch 152, §4, 143, 161
1. A limited liability company is an entity distinct from its member or members.
2. A limited liability company may have any lawful purpose, regardless of whether for profit.
3. A limited liability company has perpetual duration.
C2009, §489.104
C2024, §489.108
Former §489.108 transferred to §489.112;
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.