Sec. 19.5. (a) The following definitions apply throughout this section:
(1) "Protected series" means an arrangement, however denominated, created by a series organization that, under the law under which the series organization is organized, has the characteristics set forth in subdivision (2).
(2) "Series organization" means an organization that, under the law under which it is organized, has the following characteristics:
(A) The organic record of the organization provides for creation by the organization of one (1) or more protected series, however denominated, with respect to specified property of the organization, and for records to be maintained for each protected series that identify the property of or associated with the protected series.
(B) Debt incurred or existing with respect to the activities of, or property of or associated with, a particular protected series is enforceable against the property of or associated with the protected series only, and not against the property of or associated with the organization or other protected series of the organization.
(C) Debt incurred or existing with respect to the activities or property of the organization is enforceable against the property of the organization only, and not against the property of or associated with a protected series of the organization.
(b) A series organization and each protected series of the organization is a separate person for purposes of this chapter, even if for other purposes a protected series is not a person separate from the organization or other protected series of the organization.
As added by P.L.61-2017, SEC.19.
Structure Indiana Code
Article 18. Interests of Creditors in Property
Chapter 2. Uniform Fraudulent Transfer Act
32-18-2-0.2. Application of Prior Law to Transfers and Obligations
32-18-2-1. Applicability of Chapter
32-18-2-13. Value; When Given; Default Under Mortgage, Deed of Trust, or Security Agreement
32-18-2-15. Transfers Voidable as to Present Creditors; Creditor's Burden of Proof
32-18-2-16. Transfers and Obligations; When Considered Made or Incurred
32-18-2-17. Remedies of Creditor
32-18-2-19. Statutes of Limitation; Extinguishment of Claim for Relief
32-18-2-19.3. Determination of Debtor's Location; Governing Law in Claim for Relief
32-18-2-19.5. Series Organizations; Protected Series; Considered Separate Persons
32-18-2-20. Supplementary Provisions
32-18-2-21. Uniformity of Application and Construction
32-18-2-22. Relation to Federal Electronic Signatures in Global and National Commerce Act
32-18-2-23. Relation to Uniform Voidable Transactions Act; Citation; Interpretation