Statutes > Iowa Statutes > Title 12 - Business Entities > Subtitle 2 - Business and Professional Corporations and Companies > CHAPTER 489 - REVISED UNIFORM LIMITED LIABILITY COMPANY ACT > 489.104 - NATURE, PURPOSE, AND DURATION OF LIMITED LIABILITY COMPANY.

489.104 - NATURE, PURPOSE, AND DURATION OF LIMITED LIABILITY COMPANY.

        489.104  NATURE, PURPOSE, AND DURATION OF LIMITED      LIABILITY COMPANY.         1.  A limited liability company is an entity distinct from its      members.         2.  A limited liability company may have any lawful purpose,      regardless of whether for profit.         3.  A limited liability company has perpetual duration.
         Section History: Recent Form
         2008 Acts, ch 1162, §4, 155