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

Indiana Statutes

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

Indiana § 23-18.1-4-2

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 18.1SERIES LIMITED LIABILITY COMPANIES

Ch. 4Formation

This text of Indiana § 23-18.1-4-2 (Establishment of designated series of members, managers, or limited liability company interests) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 23-18.1-4-2 (2026).

Text

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.

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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.