Section 489.407(2)(f) of the new Iowa LLC Act will be stricken from the law by the Legislature this session. This section was added by the Iowa LLC Committee in an attempt to cover what was perceived to be a gap in the uniform law dealing with those events that required the unanimous consent of the members to undertake (unless, of course, the operating agreement provided otherwise).
We had added (f) as a new provision that read as follows "Approve a merger, conversion, or domestication under article 10."
Upon reflection it was concluded that Article 10 and 407(2)(d) adequately addressed this matter and we had forgotten to state the approval required in any event. Our bad.
-Marc Ward
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