Providing for the application and construction of the uniform protected series Act

Where it is now

1. ✓
   Done: IntroducedFebruary 6, 2020
2. –
   Skipped: SubcommitteeSkipped
3. ✓
   Done: House committeeMarch 3, 2020
4. ✓
   Done: Passes the HouseMarch 3, 2020
5. –
   Skipped: Senate committeeSkipped
6. ✓
   Done: Passes the SenateMarch 2, 202049–0
7. ✓
   Done: To the GovernorMarch 11, 2020
8. ✓
   Done: Signed into lawMarch 12, 2020

SF 2187 became law → The same legislation passed as SF 2187, so this version was set aside. Go to SF 2187 What’s a funnel?

What’s in it

The first session of the 88th general assembly enacted SF 569, the uniform protected series Act (2019 Iowa Acts, chapter 26). The Act amended Code chapter 489, the revised uniform limited liability company Act (RULLCA) as approved and recommended by the national conference on commissioners of uniform state laws (Code chapter 5). Generally, the Act provides that a protected series operating under the organizational structure of a series limited liability company may function in a manner analogous to a separate legal entity. The uniform protected series Act will be codified as Article of Code chapter 489 and by July 1, 2021, will replace Article relating to the same subject matter. This bill’s provision closely resembles Code section 489.1304, which applies to the entire Code chapter.

Full bill text · What changed before it passed¹

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