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IOWA LEGAL INFORMATION
LLC Links -- Forms and Statutes
Selected Iowa LLC Statutues
- 490A.401 Name.
1. A limited liability company name must contain the words "Limited Company" or "Limited Liability Company" or the abbreviation "L.C." or "L.L.C." or words or abbreviations of like import in another language.
2. A limited liability company name shall not contain any of the following:
a. The words "Corporation", "Incorporated", "Limited Partnership" or the abbreviations "Corp.", "Inc." or "L.P." or words or abbreviations of like import in another language.
b. Any word or phrase the use of which is prohibited by law for such a limited liability company.
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- 490A.702 Management of limited liability company.
1. Unless the articles of organization or an operating agreement provides for management of a limited liability company by a manager or managers, management of a limited liability company shall be vested in its members.
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- 490A.703 Operating agreement.
1. The members of a limited liability company may enter into an operating agreement to establish or regulate the affairs of the limited liability company, the conduct of its business and the relations of its members. An operating agreement may contain any provisions regarding the affairs of a limited liability company and the conduct of its business to the extent that such provisions are not inconsistent with law or the articles of organization.
2. An operating agreement must initially be agreed to by all of the members. Unless the articles of organization specifically permit otherwise, an operating agreement shall be in writing.
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Library of Informational Legal Articles
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