Iowa Code 489.108 – Nature, purpose, and duration of limited liability company
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1. A limited liability company is an entity distinct from its member or members.
Terms Used In Iowa Code 489.108
- Member: means a person for whom all of the following are true:a. See Iowa Code 489.1022. A limited liability company may have any lawful purpose, regardless of whether for profit.3. A limited liability company has perpetual duration.