Sec. 9. (a) An operating agreement may grant to:
(1) all or certain identified members or managers; or
(2) a specified 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, on any matter.
(b) Voting by members or managers associated with a series may be on a per capita, number, financial interest, class, group, or any other basis.
(c) An operating agreement may provide that any member or class or group of members associated with a series has no voting rights.
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