A member of a corporation is not, as such, personally liable for the acts, debts, liabilities, or obligations of the corporation.
Iowa Code § 504.613
Member’s liability to third parties
Known as the Revised Iowa Nonprofit Corporation Act
The act spans §§ 504–504 (189 sections).
Applied in 1 court decision — leading case HOK Sport, Inc. v. FC Des Moines, L.C. (2007)
Most recently applied in HOK Sport, Inc. v. FC Des Moines, L.C. (September 2007)
2004 Acts, ch 1049, §40, 192
Official source: Iowa Legislature. Reproduced from public-domain Iowa statutes; confirm against the official source for the current text. Not legal advice.