GroundRules
Iowa Code § 489.14302: Associated member.
Where this section sits in the code
- Title XII - BUSINESS ENTITIES (Ch. 486 - 504C)
- Chapter 489 - UNIFORM LIMITED LIABILITY COMPANY ACT
- Subchapter XIV - UNIFORM PROTECTED SERIES ACT
- Part 3 - ASSOCIATED ASSETS AND MEMBERS — TRANSFERABLE INTERESTS — MANAGEMENT — INFORMATION RIGHTS
1. Only a member of a series limited liability company may be an associated member of a protected series of the company.
2. A member of a series limited liability company becomes an associated member of a protected series of the company if the operating agreement or a procedure established by the agreement states all of the following:
a. That the member is an associated member of the protected series.
b. The date on which the member became an associated member.
c. Any protected-series transferable interest the associated member has in connection with becoming or being an associated member.
3. If a person that is an associated member of a protected series of a series limited liability company is dissociated from the company, the person ceases to be an associated member of the protected series.
Collected 2026-09-14T19:40:12Z. Source file · JSON