Iowa Code Title XII. Business Entities [Chs. 486-504C] § 489.14104. 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: