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2020 Indiana Code
Title 23. Business and Other Associations
Article 18.1. Series Limited Liability Companies
Chapter 4. Formation
23-18.1-4-6. Management of Series
Universal Citation:
IN Code § 23-18.1-4-6 (2020)
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Sec. 6. (a) A series may be managed, as provided in an operating agreement or series agreement, as applicable, by:
(1) the member or members associated with the series; or
(2) a manager or managers chosen by the members of the series.
(b) Unless otherwise provided in an operating agreement, the management of a series must be vested in the members associated with the series.
(c) If the operating agreement provides for a manager or managers, the manager or managers have the authority to manage the business or affairs of the series, except to the extent that the operating agreement reserves the authority to any members or class or group of members of the series.
As added by P.L.170-2016, SEC.19.
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