Iowa § 489.14501 Events causing dissolution of protected series

Iowa Statutes

§ 489.14501 — Events causing dissolution of protected series

Iowa § 489.14501

Title XIIBUSINESS ENTITIES

Ch. 489UNIFORM LIMITED LIABILITY COMPANY ACT

This text of Iowa § 489.14501 (Events causing dissolution of protected series) 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 § 489.14501 (2026).

Text

A protected series of a series limited liability company is dissolved, and its activities and affairs must be wound up, only on any of the following:

1.Dissolution of the company.

2.Occurrence of an event or circumstance the operating agreement states causes dissolution of the protected series.

3.Affirmative vote or consent of all members.

4.Entry by the court of an order dissolving the protected series on application by an associated member or protected-series manager of the protected series subject to all of the following:

a.In accordance with section 489.14108.

b.To the same extent, in the same manner, and on the same grounds the court would enter an order dissolving a limited liability company on application by a member or manager of the company.

5.Entry by the court of an order

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A protected series of a series limited liability company is dissolved, and its activities and
affairs must be wound up, only on any of the following:
1. Dissolution of the company.
2. Occurrence of an event or circumstance the operating agreement states causes
dissolution of the protected series.
3. Affirmative vote or consent of all members.
4. Entry by the court of an order dissolving the protected series on application by an
associated member or protected-series manager of the protected series subject to all of the
following:
a. In accordance with section 489.14108.
b. To the same extent, in the same manner, and on the same grounds the court would
enter an order dissolving a limited liability company on application by a member or manager
of the company.
5. Entry by the court of an order dissolving the protected series on application by the
company or a member of the company on the ground that the conduct of all or substantially
all the activities and affairs of the protected series is illegal.