Sec. 4. (a) A series with limited liability must be treated as a separate entity to the extent set forth in the articles of organization of the master limited liability company.
(b) Each series with limited liability may, in its own name, do all the following:
(1) Contract.
(2) Hold title to assets, including real, personal, and intangible property.
(3) Grant liens and security interests.
(4) Sue and be sued.
(5) Otherwise conduct business and exercise the powers of a limited liability company under this article.
As added by P.L.170-2016, SEC.19.
Structure Indiana Code
Title 23. Business and Other Associations
Article 18.1. Series Limited Liability Companies
23-18.1-4-1. Operating Agreement Requirement
23-18.1-4-3. Establishment of Classes or Groups of Members or Managers
23-18.1-4-4. Series With Limited Liability Treated as Separate Entity; Authority of Series
23-18.1-4-5. Agreement by Member or Manager to Be Obligated for Debts, Obligations, and Liabilities
23-18.1-4-6. Management of Series
23-18.1-4-7. Cease to Be Manager of Series; Limitation of Effect
23-18.1-4-10. Elections by Master Limited Liability Company and Any Series