2011 Utah Code
Title 48 Partnership
Chapter 3 Utah Revised Uniform Limited Liability Company Act
Section 1205 (Effective 07/01/12) Series related provisions in operating agreement.

48-3-1205 (Effective 07/01/12). Series related provisions in operating agreement.
(1) An operating agreement may provide for classes or groups of members or managers associated with a series with separate rights, powers, or duties as provided in Subsection 48-3-1202(1).
(2) An operating agreement may provide for the future creation of one or more additional classes or groups of members or managers associated with a series that have the rights, powers, and duties that as may from time to time be established, including a right, power, or duty that is senior to an existing class or group of members or managers associated with the series.
(3) An operating agreement may 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) an action to create a class or group of a series of interests in the limited liability company that was not previously outstanding; and
(b) amending the operating agreement.
(4) An operating agreement may provide that a member or class or group of members associated with a series has no voting rights.
(5) (a) An operating agreement may on any matter grant to all members or managers, a specific member or manager, or a specific class or group of members or managers associated with a series, the right to vote separately or with all or any class or group of the members or managers associated with the series.
(b) Voting by members or managers associated with a series may be on any basis including:
(i) a per capita basis;
(ii) a number basis;
(iii) on the basis of a financial interest; or
(iv) by class or group.
(6) Except to the extent modified by this part, the provisions of this chapter that are generally applicable to a limited liability company, and its managers, members, and transferees, are applicable to each series with respect to the operations of the series.