HF 2582: Providing for limited liability companies, providing for fees, and including effective date provisions

What it does

GENERAL. This bill amends provisions in the uniform limited liability company Act (Code chapter 489) originally enacted in 2008 and rewritten during the 2023 legislative session (2023 Iowa Acts, chapter 152). The 2023 Iowa Act was based on a proposed Act (model legislation) approved and recommended by the national conference on commissioners on uniform state laws, also named the uniform law commissioners (ULC), which includes commissioners appointed by the Governor (Code chapter 5). A limited liability company (LLC), or simply “company”, is a type of unincorporated business entity formed for the acquisition of capital (contributions) from, and the payout of receipts (distributions) to, its investors (members).

House subcommittee · named February 21, 2024

• Rep. Megan Jones (R) · megan.jones@legis.iowa.gov
• Rep. Eric J. Gjerde (D) · eric.gjerde@legis.iowa.gov
• Rep. Phil Thompson (R)

Lobbying · 3 for, 0 against

For: Iowa Secretary of State; Iowa State Bar Association; Uniform Law Commission

In plain words

1. February 6, 2024Filed in the House and sent to the Judiciary committee · as HSB 659
2. February 6, 2024House subcommittee named: Lohse, Dunwell and James · as HSB 659
3. February 12, 2024Subcommittee recommended passing it · as HSB 659
4. February 14, 2024Approved by the House committee · as HSB 659
5. February 19, 2024Filed in the House
6. February 19, 2024Sent to the House Ways and Means committee
7. February 19, 2024Approved by the House committee, and given a new number: HF 2582 · as HSB 659
8. February 21, 2024House subcommittee named: Jones, Gjerde, Thompson and P
9. February 28, 2024Subcommittee recommended passing it
10. March 6, 2024Approved by the House committee
11. March 6, 2024Approved by the House committee, and given a new number: HF 2647
12. March 26, 2024Withdrawn