Establishment of designated series of members, managers, or limited liability company interests
Ind. Code § 23-18.1-4-2
in effectSec. 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:
(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.
As added by P.L.170-2016, SEC.19.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://iga.in.gov/laws/2026/ic/titles/23Fetched: 10/17/2026