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21-503 Nature of protected series.

NE Code § 21-503 (2019) (N/A)
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21-503. Nature of protected series.

A protected series of a series limited liability company is a person distinct from:

(1) the company, subject to subsection (c) of section 21-504, subdivision (1) of section 21-524, and subsection (d) of section 21-525;

(2) another protected series of the company;

(3) a member of the company, whether or not the member is an associated member of the protected series;

(4) a protected-series transferee of a protected series of the company; and

(5) a transferee of a transferable interest of the company.

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