Substitute for HOUSE BILL No. 2207Limited Liability Company Act • March 19th, 2012
New Section 1. (a) An operating agreement may establish or provide for the establishment of one or more designated series of members, man- agers or limited liability company interests having separate rights, powers or duties with respect to specified property or obligations of the limited liability company or profits and losses associated with specified property or obligations, and to the extent provided in the operating agreement, any such series may have a separate business purpose or investment ob- jective.
SectionsLimited Liability Company Act • November 3rd, 2023
