No agency power of member as member
Known as the Uniform Limited Liability Company Act
The act spans §§ 489–489 (188 sections).
Applied in 1 court decision — leading case Masterguard, L.P. v. Eco Technologies International LLC D/B/A Yellowblue (2013)
Most recently applied in Masterguard, L.P. v. Eco Technologies International LLC D/B/A Yellowblue (August 2013)
2008 Acts, ch 1162, §27, 155
1. A member is not an agent of a limited liability company solely by reason of being a member.
2. A person’s status as a member does not prevent or restrict law other than this chapter from imposing liability on a limited liability company because of the person’s conduct.
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.