Iowa LLC Operating Agreement

The Iowa LLC operating agreement is executed by the managers and members of a company so that clear-cut rules for running the company are established. Verbal and written agreements are recognized in Iowa however, a written contract is often preferred.

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Last updated December 6th, 2024

The Iowa LLC operating agreement is executed by the managers and members of a company so that clear-cut rules for running the company are established. Verbal and written agreements are recognized in Iowa however, a written contract is often preferred.

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Is it Required in Iowa?

No. The State of Iowa has no laws set to require LLCs to function under an operating agreement. Still many do so in order to solidify policies and protect the company from being subjec to default state laws during times of internal disagreement. (Iowa Uniform Limited Liability Company Act §489.105)

By Type (2)

State Definition

“Operating agreement” means the contract made by the members/owners of a multi-member or sole-member LLC to solidify their company role and the LLC’s policies and rules;

Iowa State Code § 489.102 (19)