489.1207  Application to existing relationships.
  1.  For purposes of applying this chapter to a limited liability company formed before January 1, 2024, references in the limited liability company’s operating agreement to provisions in this chapter in effect before January 1, 2024, are deemed to be references to the comparable provision in this chapter after January 1, 2024.
  2.  A limited liability company that has published notice of its dissolution and requested persons having claims against the limited liability company to present them in accordance with the notice pursuant to section 489.705 as that section existed immediately prior to January 1, 2024, shall be subject to the requirements set forth in that section as it existed immediately prior to January 1, 2024, including the right of a claim by a person that is commenced within five years after publication of the notice.
  3.  For the purposes of applying this chapter to a limited liability company formed before January 1, 2009, all of the following apply:
  a.  The limited liability company’s articles of organization are deemed to be the company’s certificate of organization.
  b.  For the purposes of applying section 489.102, subsection 15, and subject to section 489.107, subsection 4, language in the limited liability company’s articles of organization designating the limited liability company’s management structure operates as if that language were in the operating agreement.
  c.  If a professional limited liability company’s name complied with section 490A.1503 as that section existed on December 30, 2010, that company’s name shall also be deemed to comply with the name requirements of section 489.1103 of the 2011 edition of the Iowa Code.
2023 Acts, ch 152, §125, 161; 2024 Acts, ch 1125, §20, 31
Referred to in §489.102
Subsection 2 amended