Iowa Code Title XII. Business Entities [Chs. 486-504C] § 489.14304. Management

1. A protected series may have more than one protected-series manager.

2. If a protected series has no associated members, the series limited liability company is the protected-series manager.

3. Section 489.14108 applies to determine any duties of a protected-series manager of a protected series of a series limited liability company to all of the following:

4. Solely by reason of being or acting as a protected-series manager of a protected series of a series limited liability company, a person owes no duty to any of the following:

5. An associated member of a protected series of a series limited liability company has the same rights as any other member of the company to vote on or consent to an amendment to the company's operating agreement or any other matter being decided by the members, whether or not the amendment or matter affects the interests of the protected series or the associated member.

6. Subchapter IX applies to a protected series in accordance with section 489.14108.