Indiana Code 23-18.1-4-2. Establishment of designated series of members, managers, or limited liability company interests
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Sec. 2. 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:
(A) specified property or obligations of the limited liability company; or
(1) have separate rights, powers, or duties with respect to:
Terms Used In Indiana Code 23-18.1-4-2
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(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.
As added by P.L.170-2016, SEC.19.