489.104 - NATURE, PURPOSE, AND DURATION OF LIMITED LIABILITY COMPANY. - Iowa Statutes

489.104 NATURE, PURPOSE, AND DURATION OF LIMITED LIABILITY COMPANY. 1. A limited liability company is an entity distinct from its members. 2. A limited liability company may have any lawful purpose, regardless of whether for profit. 3. A limited liability company has perpetual duration.          Section History: Recent Form 2008 Acts, ch 1162, §4, 155