490A.303 - ARTICLES OF ORGANIZATION.
490A.303 ARTICLES OF ORGANIZATION. 1. The articles of organization must set forth all of the following: a. A name for the limited liability company that satisfies the requirements of section 490A.401. b. The street address of the limited liability company's initial registered office and the name of its initial registered agent at that office. c. The street address of the principal office of the limited liability company, which may be the same as the registered office, but need not be within this state. d. The period of its duration, which may be perpetual. 2. The articles of organization may set forth any other provision not inconsistent with law, including, but not limited to, a statement of whether there are limitations on the authority of members to bind the limited liability company. 3. The articles of organization need not set forth any of the powers enumerated in this chapter. 4. The articles of organization or an operating agreement may provide that a member's interest in a limited liability company may be evidenced by a certificate of membership interest issued by the limited liability company and may also provide for assignment or transfer of any membership interest represented by such a certificate and make other provisions with respect to such a certificate.
Section History: Recent Form 92 Acts, ch 1151, § 26; 97 Acts, ch 188, § 55 Referred to in § 490A.1103