Ind. Code ch. 23-18.1-2

in effect

Ind. Code § 23-18.1-2-1 Application of limited liability company definitions

Sec. 1. The definitions in IC 23-18-1 apply throughout this article. As added by P.L.170-2016, SEC.19.

Ind. Code § 23-18.1-2-2 Application of definitions

Sec. 2. The definitions in this chapter apply throughout this article. As added by P.L.170-2016, SEC.19.

Ind. Code § 23-18.1-2-3 "Articles of designation"

Sec. 3. "Articles of designation" means: (1) the articles of designation described in IC 23-18.1-6-2; and (2) any amended or restated articles of designation. As added by P.L.170-2016, SEC.19.

Ind. Code § 23-18.1-2-4 "Foreign master limited liability company"

Sec. 4. "Foreign master limited liability company" means a foreign limited liability company that: (1) has filed a certificate of authority under this article; and (2) is organized under a law that allows for the designation of one (1) or more series. As added by P.L.170-2016, SEC.19.

Ind. Code § 23-18.1-2-5 "Master limited liability company"

Sec. 5. "Master limited liability company" means a limited liability company that is formed under this article whose articles of organization authorize the designation of one (1) or more series. As added by P.L.170-2016, SEC.19.

Ind. Code § 23-18.1-2-6 "Operating agreement"

Sec. 6. "Operating agreement" means an operating agreement, as amended from time to time, adopted for the governance of a master limited liability company. The term includes an operating agreement that: (1) sets forth the governance of any series; or (2) refers to a separate series agreement. As added by P.L.170-2016, SEC.19.

Ind. Code § 23-18.1-2-7 "Series"

Sec. 7. "Series", in the context of a series limited liability company, means a limited liability company series of interest established from time to time by the filing of articles of designation that: (1) has separate rights, powers, or duties with respect to specified property or obligations; and (2) to the extent provided for in an operating agreement, may have a separate business purpose or investment objective from that of: (A) the master limited liability company; or (B) any other series of the master limited liability company. As added by P.L.170-2016, SEC.19.

Ind. Code § 23-18.1-2-8 "Series agreement"

Sec. 8. "Series agreement" means an agreement, as amended from time to time, adopted for the governance of the series. As added by P.L.170-2016, SEC.19.

Ind. Code § 23-18.1-2-9 "Series limited liability company"

Sec. 9. "Series limited liability company" means a master limited liability company that has designated one (1) or more series. 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