490A.201 - PURPOSES.
490A.201 PURPOSES. 1. A limited liability company organized under this chapter has the purpose of engaging in any lawful activity unless a more limited purpose is set forth in the articles of organization. 2. A limited liability company engaging in an activity that is subject to regulation under another statute of this state may organize under this chapter only if permitted by, and subject to all limitations of, the other statute.
Section History: Recent Form 92 Acts, ch 1151, § 22; 2006 Acts, ch 1089, §22