Text: HF02238 Text: HF02240 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 HOUSE FILE 2239 1 2 1 3 AN ACT 1 4 RELATING TO LIMITED PARTNERSHIPS BY PROVIDING FOR SUCH 1 5 PARTNERSHIPS TO BECOME LIMITED LIABILITY LIMITED 1 6 PARTNERSHIPS, PROVIDING FOR RELATED MATTERS, AND 1 7 PROVIDING AN EFFECTIVE DATE. 1 8 1 9 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 1 10 1 11 Section 1. Section 9H.1, subsection 16, Code Supplement 1 12 1999, is amended to read as follows: 1 13 16. "Limited partnership" means a partnership as defined 1 14 in section 487.101, subsection 7, and a limited liability 1 15 limited partnership under section 487.1301, which owns or 1 16 leases agricultural land or is engaged in farming. 1 17 Sec. 2. Section 10B.1, subsection 8, Code 1999, is amended 1 18 to read as follows: 1 19 8. "Limited partnership" means a foreign or domestic 1 20 limited partnership, including a limited partnership as 1 21 defined in section 487.101, subsection 7, and a domestic or 1 22 foreign limited liability limited partnership under section 1 23 487.1301 or 487.1303. 1 24 Sec. 3. Section 487.109, subsection 1, paragraph l, Code 1 25 1999, is amended to read as follows: 1 26 l. Statement of qualification of limited liability 1 27 limited partnership.................................. $ 50 1 28 m. Amendment to statement of qualification of 1 29 limited liability limited partnership................ $ 20 1 30 n. Cancellation of statement of qualification ... $ 20 1 31 o. Application for registration of foreign limited 1 32 liability limited partnership and also issuance of a 1 33 certificate of registration to transact business in 1 34 this state........................................... $ 100 1 35 p. Amendment to application for registration of 2 1 foreign limited liability limited partnership........ $ 100 2 2 q. Cancellation of registration of foreign 2 3 limited liability limited partnership................ $ 20 2 4l.r. Any other document required or 2 5 permitted to be filed................................ $ 5 2 6 Sec. 4. Section 487.1103, Code 1999, is amended to read as 2 7 follows: 2 8 487.1103 CASES NOT PROVIDED FOR IN THIS CHAPTER. 2 9 In a case not provided for in this chapter, chapter4862 10 486A governs. 2 11 Sec. 5. NEW SECTION. 487.1301 LIMITED LIABILITY LIMITED 2 12 PARTNERSHIP. 2 13 1. A limited partnership may become a limited liability 2 14 limited partnership pursuant to this section. 2 15 2. The terms and conditions on which a limited partnership 2 16 becomes a limited liability limited partnership must be 2 17 approved by the vote necessary to amend the limited 2 18 partnership agreement except, in the case of a limited 2 19 partnership agreement that expressly considers obligations to 2 20 contribute to the limited partnership, by the vote necessary 2 21 to amend those provisions. 2 22 3. After the approval required by subsection 2, a limited 2 23 partnership may become a limited liability limited partnership 2 24 by filing a statement of qualification. The statement must 2 25 contain all of the following: 2 26 a. The name of the limited partnership. 2 27 b. The street address of the limited partnership's chief 2 28 executive office and, if different, the street address of an 2 29 office in this state, if any. 2 30 c. The address of a registered office and the name and 2 31 address of a registered agent for service of process in this 2 32 state, which the limited partnership is required to maintain 2 33 as provided in section 487.104. 2 34 d. A statement that the limited partnership elects to be a 2 35 limited liability limited partnership. 3 1 e. A deferred effective date, if any. 3 2 4. The filing of a statement of qualification establishes 3 3 that a limited partnership has satisfied all conditions 3 4 precedent to the qualification of the limited partnership as a 3 5 limited liability limited partnership. 3 6 5. A limited liability limited partnership continues to be 3 7 the same entity that existed before the filing of the 3 8 statement of qualification under subsection 3. 3 9 6. Section 486A.306, subsection 3, and section 486A.307, 3 10 subsection 4, apply to both general and limited partners of a 3 11 limited liability limited partnership in the same manner as 3 12 those provisions apply to a partnership and a partner under 3 13 chapter 486A. 3 14 Sec. 6. NEW SECTION. 487.1302 NAME. 3 15 The name of a limited liability limited partnership must 3 16 end with "Registered Limited Liability Limited Partnership", 3 17 "Limited Liability Limited Partnership", "R.L.L.L.P.", 3 18 "L.L.L.P.", "RLLLP", or "LLLP". 3 19 Sec. 7. NEW SECTION. 487.1303 FOREIGN LIMITED LIABILITY 3 20 LIMITED PARTNERSHIP. 3 21 Sections 487.901 through 487.911 shall apply to a foreign 3 22 limited liability limited partnership in the same manner as 3 23 those sections apply to a foreign limited partnership. For 3 24 purposes of section 487.904, a foreign limited liability 3 25 limited partnership may register with the secretary of state 3 26 under a name that could be registered by a domestic limited 3 27 liability limited partnership even if it is not the name under 3 28 which the foreign limited liability limited partnership is 3 29 registered in its state of organization. 3 30 Sec. 8. EFFECTIVE DATE. Section 4 of this Act, which 3 31 amends section 487.1103, takes effect on January 1, 2001. 3 32 3 33 3 34 3 35 BRENT SIEGRIST 4 1 Speaker of the House 4 2 4 3 4 4 4 5 MARY E. KRAMER 4 6 President of the Senate 4 7 4 8 I hereby certify that this bill originated in the House and 4 9 is known as House File 2239, Seventy-eighth General Assembly. 4 10 4 11 4 12 4 13 ELIZABETH ISAACSON 4 14 Chief Clerk of the House 4 15 Approved , 2000 4 16 4 17 4 18 4 19 THOMAS J. VILSACK 4 20 Governor
Text: HF02238 Text: HF02240 Text: HF02200 - HF02299 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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