Iowa Code 489.103 – Knowledge — notice
Current as of: 2024 | Check for updates
|
Other versions
1. A person knows a fact if the person has or is any of the following:
a. Has actual knowledge of it.
b. Is deemed to know it under subsection 4, paragraph “a”, or law other than this chapter.
Terms Used In Iowa Code 489.103
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Member: means a person for whom all of the following are true:a. See Iowa Code 489.102
- Person: includes a protected series, however denominated, of an entity if the protected series is established under law that limits, or limits if conditions specified under law are satisfied, the ability of a creditor of the entity or of any other protected series of the entity to satisfy a claim from assets of the protected series. See Iowa Code 489.102
- Transfer: includes any of the following:
a. See Iowa Code 489.1022. A person has notice of a fact if the person has or is any of the following:a. Has reason to know the fact from all the facts known to the person at the time in question.b. Is deemed to have notice of the fact under subsection 4, paragraph “b”.3. Subject to section 489.210, subsection 6, a person notifies another person of a fact by taking steps reasonably required to inform the other person in ordinary course, whether or not those steps cause the other person to know the fact.4. A person not a member is deemed all of the following:a. To know of a limitation on authority to transfer real property as provided in section 489.302, subsection 7.b. To have notice of all of the following:(1) The limited liability company’s dissolution, ninety days after a statement of dissolution under section 489.702, subsection 2, paragraph “b”, subparagraph (1), becomes effective.(2) The limited liability company’s termination, ninety days after a statement of termination under section 489.702, subsection 2, paragraph “b”, subparagraph (6), becomes effective.(3) The limited liability company’s participation in a merger, interest exchange, conversion, or domestication, ninety days after articles of merger, interest exchange, conversion, or domestication under subchapter X become effective.