Iowa § 489.1114 Management

Iowa Statutes

§ 489.1114 — Management

Iowa § 489.1114

Title XIIBUSINESS ENTITIES

Ch. 489UNIFORM LIMITED LIABILITY COMPANY ACT

This text of Iowa § 489.1114 (Management) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 489.1114 (2026).

Text

1.All managers of a professional limited liability company shall at all times be individuals who are licensed to practice a profession in this state or a lawful combination of professions pursuant to section 489.1102, which the limited liability company is authorized to practice.

2.Notwithstanding subsection 1, upon the occurrence of any event that requires the professional limited liability company either to be dissolved or to elect to no longer be a professional limited liability company but continue its existence as a limited liability company, as provided in section 489.1119, all of the following apply:

a.The professional limited liability company ceases to practice the profession that the professional limited liability company is authorized to practice, as provided in section 489.1

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1. All managers of a professional limited liability company shall at all times be individuals
who are licensed to practice a profession in this state or a lawful combination of professions
pursuant to section 489.1102, which the limited liability company is authorized to practice.
2. Notwithstanding subsection 1, upon the occurrence of any event that requires the
professional limited liability company either to be dissolved or to elect to no longer be
a professional limited liability company but continue its existence as a limited liability
company, as provided in section 489.1119, all of the following apply:
a. The professional limited liability company ceases to practice the profession that
the professional limited liability company is authorized to practice, as provided in section
489.1119.
b. The individuals who are not licensed to practice in this state a profession that the
professional limited liability company is authorized to practice may be appointed as officers
and directors for the sole purpose of doing any of the following:
(1) Carrying out the dissolution of the professional limited liability company.
(2) If applicable, carrying out the voluntary election of the professional limited liability
company to no longer be a professional limited liability company but continue its existence
as a limited liability company, as provided in section 489.1119.