Iowa Code § 489.14107
Additional limitations on operating agreement
Redline — January 1, 2024 → current.View current text →
Current — January 1, 2025
As of January 1, 2024
1. An operating agreement shall not vary the effect of any of the following:
1. An operating agreement shall not vary the effect of any of the following:
a. This section.
a. This section.
b. Section 489.14103.
b. Section 489.14103.
c. Section 489.14104, subsection 1.
c. Section 489.14104, subsection 1.
d. Section 489.14104, subsection 2, to provide a protected series a power beyond the powers this chapter provides a limited liability company.
d. Section 489.14104, subsection 2, to provide a protected series a power beyond the powers this chapter provides a limited liability company.
e. Section 489.14104, subsection 3 or 4.
e. Section 489.14104, subsection 3 or 4.
f. Section 489.14105.
f. Section 489.14105.
g. Section 489.14106.
g. Section 489.14106.
h. Section 489.14108.
h. Section 489.14108.
i. Section 489.14201, except to vary the manner in which a limited liability company approves establishing a protected series.
i. Section 489.14201, except to vary the manner in which a limited liability company approves establishing a protected series.
j. Section 489.14202.
j. Section 489.14202.
k. Section 489.14301.
k. Section 489.14301.
l. Section 489.14302.
l. Section 489.14302.
m. Section 489.14303, subsection 1 or 2.
m. Section 489.14303, subsection 1 or 2.
n. Section 489.14304, subsection 3 or 6.
n. Section 489.14304, subsection 3 or 6.
o. Section 489.14401, except to decrease or eliminate a limitation of liability stated in section 489.14401.
o. Section 489.14401, except to decrease or eliminate a limitation of liability stated in section 489.14401.
p. Section 489.14402.
p. Section 489.14402.
q. Section 489.14403.
q. Section 489.14403.
r. Section 489.14404.
r. Section 489.14404.
s. Section 489.14501, subsections 1, 4, and 5.
s. Section 489.14501, subsections 1, 4, and 5.
t. Section 489.14502, except to designate a different person to manage winding up.
t. Section 489.14502, except to designate a different person to manage winding up.
u. Section 489.14503.
u. Section 489.14503.
v. Subchapter VI.
v. Subchapter VI.
w. Subchapter VII.
w. Subchapter VII.
x. Subchapter VIII.
x. Subchapter VIII.
y. A provision of this subchapter pertaining to any of the following:
y. A provision of this subchapter pertaining to any of the following:
(1) Registered agents.
(1) Registered agents.
(2) The secretary of state, including provisions pertaining to records authorized or required to be delivered to the secretary of state for filing under this subchapter.
(2) The secretary of state, including provisions pertaining to records authorized or required to be delivered to the secretary of state for filing under this subchapter.
2. An operating agreement shall not unreasonably restrict the duties and rights under section 489.14305 but may impose reasonable restrictions on the availability and use of information obtained under section 489.14305 and may provide appropriate remedies, including liquidated damages, for a breach of any reasonable restriction on use.
2. An operating agreement shall not unreasonably restrict the duties and rights under section 489.14305 but may impose reasonable restrictions on the availability and use of information obtained under section 489.14305 and may provide appropriate remedies, including liquidated damages, for a breach of any reasonable restriction on use.
2023 amendment to subsection 1, paragraphs v – y effective January 1, 2024; 2023 Acts, ch 152, §161
Subsection 1, paragraphs v – y amended
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.