Iowa Code (Last Updated: December 05, 2016) |
Title XII. BUSINESS ENTITIES |
Chapter 489. REVISED UNIFORM LIMITED LIABILITY COMPANY ACT |
Section 489.301. No agency power of member as member.
Latest version.
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1. A member is not an agent of a limited liability company solely by reason of being a member.
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.