§ 48-3a-1209 — Foreign limited liability company -- Series.

Utah § 48-3a-1209

• Jurisdiction: Utah
• Title 48: Unincorporated Business Entity Act
• Ch. 48-3a: Utah Revised Uniform Limited Liability Company Act
• Part 48-3a-12: Series Limited Liability Companies

Text

A foreign limited liability company that is registered to do business in this state that is governed by an operating agreement that establishes or provides for the establishment of a series of transferable interests having separate rights, powers, or duties with respect to specified property or obligations of the foreign limited liability company, or profits and losses associated with the specified property or obligations, shall indicate that fact on the foreign registration statement filed by the division. In addition, the foreign limited liability company shall state on the foreign registration statement whether the debts, liabilities, and obligations incurred, contracted for, or otherwise existing with respect to a particular series, if any, are enforceable against the assets of such series only, and not against the assets of the foreign limited liability company generally or any other series. Notice in a foreign limited liability company's foreign registration statement of the limitation on liability of a series as referenced in this section shall have the same effect found in Section 48-3a-1202 as a notice of limitation on liability of a series set forth in a limited liability company's certificate of organization.

Legislative History

Enacted by Chapter 412, 2013 General Session