Section 489.108 - Nature, purpose, and duration of limited liability company1. A limited liability company is an entity distinct from its member or members.2. A limited liability company may have any lawful purpose, regardless of whether for profit.3. A limited liability company has perpetual duration.Renumbered from §489.104 by 2023 Iowa, ch 152, s 143, eff. 1/1/2024.Amended by 2023 Iowa, ch 152, s 4, eff. 1/1/2024.2008 Acts, ch 1162, §4, 155Former §489.108 renumbered to §489.112 by 2023 Iowa, ch 152, s 143, eff. 1/1/2024.Former §489.108 transferred to §489.112; 2023 Acts, ch 152, §143, 161
2023 amendment effective January 1, 2024; 2023 Acts, ch 152, §161
Section transferred from §489.104 in Code 2024 pursuant to directive in 2023 Acts, ch 152, §143, 161
Section amended