Iowa Code § 489.14104 (2026)
Powers and duration of protected series
1. A protected series of a series limited liability company has the capacity to sue and be sued in its own name.
2. Except as otherwise provided in subsections 3 and 4, a protected series of a series limited liability company has the same powers and purposes as the company.
3. A protected series of a series limited liability company ceases to exist not later than when the company completes its winding up.
4. A protected series of a series limited liability company shall not do any of the following:
a. Be a member of the company.
b. Establish a protected series.
c. Except as permitted by law of this state other than this subchapter, have a purpose or\n\nTue Dec 09 22:07:32 2025 Iowa Code 2026, Chapter 489 (303, 2) 77 UNIFORM LIMITED LIABILITY COMPANY ACT, §489.14105\n\npower that the law of this state other than this subchapter prohibits a limited liability company from doing or having. 2019 Acts, ch 26, §4, 41; 2023 Acts, ch 152, §129, 161 Referred to in §489.14103, 489.14107 \n