Iowa Code 489.301 – No agency power of member as member
Current as of: 2023 | Check for updates
|
Other versions
1. A member is not an agent of a limited liability company solely by reason of being a member.
Terms Used In Iowa Code 489.301
- Member: means a person that has become a member of a limited liability company under section 489. See Iowa Code 489.102
- Person: means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity. See Iowa Code 489.102
2. A person‘s status as a member does not prevent or restrict law other than this chapter from imposing liability on a limited liability company because of the person’s conduct.