Iowa Code 489.504 – Power of personal representative of deceased member
Current as of: 2023 | Check for updates
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Terms Used In Iowa Code 489.504
- Member: means a person that has become a member of a limited liability company under section 489. See Iowa Code 489.102
- Transferee: means a person to which all or part of a transferable interest has been transferred, whether or not the transferor is a member. See Iowa Code 489.102
If a member dies, the deceased member’s personal representative or other legal representative may exercise the rights of a transferee provided in section 489.502, subsection 3, and, for the purposes of settling the estate, the rights of a current member under section 489.410.