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Iowa Code § 489.801

Direct action by member

Known as the Uniform Limited Liability Company Act

The act spans §§ 489–489 (188 sections).

2008 Acts, ch 1162, §66, 155 2023 Acts, ch 152, §143, 161

1. Subject to subsection 2, a member may maintain a direct action against another member, a manager, or the limited liability company to enforce the member’s rights and otherwise protect the member’s interests, including rights and interests under the operating agreement or this chapter or arising independently of the membership relationship.

2. A member maintaining a direct action under this section must plead and prove an actual or threatened injury that is not solely the result of an injury suffered or threatened to be suffered by the limited liability company.

C2009, §489.901

C2024, §489.801

Former §489.801 transferred to §489.901;

Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.