2018 Indiana Code
TITLE 23. Business and other Associations
ARTICLE 18.1. SERIES LIMITED LIABILITY COMPANIES
CHAPTER 4. Formation
23-18.1-4-3. Establishment of classes or groups of members or managers
Sec. 3. An operating agreement may also:
(1) provide for classes or groups of members or managers associated with a series having relative rights, powers, and duties as the operating agreement may provide;
(2) make provisions for the future creation of additional classes or groups of members or managers associated with the series having relative rights, powers, and duties as may from time to time be established, including rights, powers, and duties senior to existing classes and groups of members or managers associated with the series; and
(3) provide for the taking of an action, without the vote or approval of any member or manager or class or group of members or managers, including:
(A) the amendment of the operating agreement; or
(B) an action to create, under the provisions of the operating agreement, a class or group of the series of limited liability company interests that was not previously outstanding.
As added by P.L.170-2016, SEC.19.
