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 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;