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2020 Indiana Code
Title 23. Business and Other Associations
Article 18.1. Series Limited Liability Companies
Chapter 4. Formation
23-18.1-4-2. Establishment of Designated Series of Members, Managers, or Limited Liability Company Interests
Universal Citation:
IN Code § 23-18.1-4-2 (2020)
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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:
(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.
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