21-509. Protected series designation; amendment.
(a) With the affirmative vote or consent of all members of a limited liability company, the company may establish a protected series.
(b) To establish one or more protected series, a limited liability company shall deliver to the Secretary of State for filing a protected-series designation, signed by the company, stating the name of the company and the name or names of the protected series to be established.
(c) A protected series is established when the protected-series designation takes effect under section 21-121.
(d) To amend a protected-series designation, a series limited liability company shall deliver to the Secretary of State for filing a statement of designation change, signed by the company, that changes the name of the company, the name or names of the protected series to which the designation applies, or both. The change takes effect when the statement of designation change takes effect under section 21-121.
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