Indiana § 23-18.1-4-8 Assignment, transfer, or redemption of member's limited liability
company interest; cease association with series; limitation of effect

Indiana Statutes

§ 23-18.1-4-8 — Assignment, transfer, or redemption of member's limited liability company interest; cease association with series; limitation of effect

Indiana § 23-18.1-4-8

Title 23BUSINESS AND OTHER ASSOCIATIONS

Art. 18.1SERIES LIMITED LIABILITY COMPANIES

Ch. 4Formation

This text of Indiana § 23-18.1-4-8 (Assignment, transfer, or redemption of member's limited liability company interest; cease association with series; limitation of effect) 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 § 23-18.1-4-8 (2026).

Text

(a)Unless otherwise provided in the operating agreement, a member ceases to:

(1)be associated with a series; and

(2)have the power to exercise any rights or powers of a member with respect to the series; upon the assignment, transfer, or redemption of all the member's limited liability company interest with respect to the series.

(b)Except as otherwise provided in an operating agreement, any event under this article or an operating agreement that causes a member to cease to be associated with a series does not, in itself, cause the:

(1)member to cease to be associated with any other series or terminate the continued membership of a member in the master limited liability company; or

(2)termination of the series, regardless of whether the member was the last remaining member associated

Free access — add to your briefcase to read the full text and ask questions with AI

(a) Unless otherwise provided in the
operating agreement, a member ceases to:
(1) be associated with a series; and
(2) have the power to exercise any rights or powers of a member
with respect to the series;
upon the assignment, transfer, or redemption of all the member's
limited liability company interest with respect to the series.
(b) Except as otherwise provided in an operating agreement, any
event under this article or an operating agreement that causes a
member to cease to be associated with a series does not, in itself, cause
the:
(1) member to cease to be associated with any other series or
terminate the continued membership of a member in the master
limited liability company; or
(2) termination of the series, regardless of whether the member
was the last remaining member associated with the series, unless
the business of the series is not continued as provided for under
IC 23-18-9-1.1(c).