{"data":{"id":"us-ia/iowa-code-489.14401","jurisdiction":"us-ia","citation":"Iowa Code § 489.14401","heading":"Limitations on liability.","body":"1. A person is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of any of the following:\na. A protected series of a series limited liability company solely by reason of being or acting as any of the following:\n(1) An associated member, protected-series manager, or protected-series transferee of the protected series.\n(2) A member, manager, or a transferee of the company.\nb. A series limited liability company solely by reason of being or acting as an associated member, protected-series manager, or protected-series transferee of a protected series of the company.\n2. Subject to section 489.14404, all of the following rules apply:\na. A debt, obligation, or other liability of a series limited liability company is solely the debt, obligation, or liability of the company.\nb. A debt, obligation, or other liability of a protected series is solely the debt, obligation, or liability of the protected series.\nc. A series limited liability company is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of a protected series of the company solely by reason of the protected series being a protected series of the company or the company for any of the following:\n(1) Being or acting as a protected-series manager of the protected series.\n(2) Having the protected series manage the company.\n(3) Owning a protected-series transferable interest of the protected series.\nd. A protected series of a series limited liability company is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the company or another protected series of the company solely by reason of any of the following:\n(1) Being a protected series of the company.\n(2) Being or acting as a manager of the company or a protected-series manager of another protected series of the company.\n(3) Having the company or another protected series of the company be or act as a protected-series manager of the protected series.","path":["Title XII - BUSINESS ENTITIES (Ch. 486 - 504C)","Chapter 489 - UNIFORM LIMITED LIABILITY COMPANY ACT","Subchapter XIV - UNIFORM PROTECTED SERIES ACT","Part 4 - LIMITATION ON LIABILITY AND ENFORCEMENT OF CLAIMS"],"source_url":"https://www.legis.iowa.gov/docs/code/2026/489.14401.pdf","current_through":"Iowa Code 2026 edition","vintage":"","retrieved_at":"2026-09-14T19:40:12Z","sha256":"4da80af58a327a0881c525fcf35c7228e098aae9f7441592ff7c0edfe1a65cf0","source_id":"us-ia","stale":false,"prev":"us-ia/iowa-code-489.14306","next":"us-ia/iowa-code-489.14402"},"notice":"GroundRules: Original legal text. Not legal advice."}