SSB 3147: SSB 3147

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 This bill amends provisions in the uniform limited liability company Act (Code chapter 489) originally enacted in 2008 and rewritten during the 2023 legislative session (2023 Iowa Acts, chapter 152).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).

Senate subcommittee · named February 5, 2024

• Sen. Mike Bousselot (R) · mike.bousselot@legis.iowa.gov
• Sen. Lynn Evans (R) · lynn.evans@legis.iowa.gov
• Sen. Herman C. Quirmbach (D) · herman.quirmbach@legis.iowa.gov

Lobbying · 3 for, 0 against

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

In plain words

1. February 5, 2024Filed in the Senate and sent to the Judiciary committee
2. February 5, 2024Senate subcommittee named: Bousselot, Evans and Quirmbach
3. February 7, 2024Subcommittee recommended passing it
4. February 13, 2024Approved by the Senate committee, and given a new number: SF 2347