489.801 - GOVERNING LAW. - Iowa Statutes

489.801 GOVERNING LAW. 1. The law of the state or other jurisdiction under which a foreign limited liability company is formed governs all of the following: a. The internal affairs of the company. b. The liability of a member as member and a manager as manager for the debts, obligations, or other liabilities of the company. 2. A foreign limited liability company shall not be denied a certificate of authority by reason of any difference between the law of the jurisdiction under which the company is formed and the law of this state. 3. A certificate of authority does not authorize a foreign limited liability company to engage in any business or exercise any power that a limited liability company shall not engage in or exercise in this state.          Section History: Recent Form 2008 Acts, ch 1162, §57, 155