LegalFix
Sign In

23-18.1-4-2. Establishment of designated series of members, managers, or limited liability company interests

IN Code § 23-18.1-4-2 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

Sec. 2. An operating agreement of a master limited liability company may establish or provide for the establishment of one (1) or more designated series of members, managers, or limited liability company interests that:

(1) have separate rights, powers, or duties with respect to:

(A) specified property or obligations of the limited liability company; or

(B) profits and losses associated with specified property or obligations; and

(2) to the extent provided in the operating agreement, may have a separate business purpose or investment objective.

As added by P.L.170-2016, SEC.19.

Previous Section
23-18.1-4-1. Operating agreement requirement
Next Section
23-18.1-4-3. Establishment of classes or groups of members or managers