Indiana § 23-18.1-4-3 Establishment of classes or groups of members or managers

Indiana Statutes

§ 23-18.1-4-3 — Establishment of classes or groups of members or managers

Indiana § 23-18.1-4-3

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 18.1SERIES LIMITED LIABILITY COMPANIES

Ch. 4Formation

This text of Indiana § 23-18.1-4-3 (Establishment of classes or groups of members or managers) 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 § 23-18.1-4-3 (2026).

Text

An operating agreement may also:

(1)provide for classes or groups of members or managers associated with a series having relative rights, powers, and duties as the operating agreement may provide;

(2)make provisions for the future creation of additional classes or groups of members or managers associated with the series having relative rights, powers, and duties as may from time to time be established, including rights, powers, and duties senior to existing classes and groups of members or managers associated with the series; and

(3)provide for the taking of an action, without the vote or approval of any member or manager or class or group of members or managers, including:

(A)the amendment of the operating agreement; or

(B)an action to create, under the provisions of the operating ag

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An operating agreement may also:
(1) provide for classes or groups of members or managers
associated with a series having relative rights, powers, and duties
as the operating agreement may provide;
(2) make provisions for the future creation of additional classes
or groups of members or managers associated with the series
having relative rights, powers, and duties as may from time to
time be established, including rights, powers, and duties senior to
existing classes and groups of members or managers associated
with the series; and
(3) provide for the taking of an action, without the vote or
approval of any member or manager or class or group of members
or managers, including:
(A) the amendment of the operating agreement; or
(B) an action to create, under the provisions of the operating
agreement, a class or group of the series of limited liability
company interests that was not previously outstanding.