2021 Iowa Code
Title XII - BUSINESS ENTITIES
Chapter 489 - REVISED UNIFORM LIMITED LIABILITY COMPANY ACT
Section 489.1204 - Dissociation from a series.
489.1204 Dissociation from a series.
1. Unless otherwise provided in the operating agreement, a member shall cease to be associated with a series and to have the power to exercise any rights or powers of a member with respect to such series upon the assignment of all of the member’s transferable interest with respect to such series. Except as otherwise provided in an operating agreement, an event under this chapter or identified in an operating agreement that causes a member to cease to be associated with a series, by itself, shall not cause such member to cease to be associated with any other series or terminate the continued membership of a member in the limited liability company.
2. This section is repealed on July 1, 2021.
2008 Acts, ch 1162, §109, 155; 2019 Acts, ch 26, §49, 53
2019 amendment to section is effective July 1, 2020; 2019 Acts, ch 26, §53
Section amended
