Series organization definition
Series organization means an organization that, pursuant to the statute under which the organization is organized, has the following characteristics: (a) the organic record of the organization provides for creation by the organization of one or more series (however denominated) with respect to specified property of the organization, and provides for records to be maintained for each series that identify the property of or associated with the series, (b) debt incurred or existing with respect to the activities of, or property of or associated with a particular series is enforceable against the property of or associated with the series only, and not against the property of or associated with the organization or of other series of the organization, and (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 any series of the organization.
Series organization means an organization that, pursuant to the law under which it is organized, has the following characteristics:
Series organization means a corporation that, pursuant to the statute under which the corporation is organized, has the following characteristics: (a) the articles of incorporation provide for creation by the corporation of one or more series (however denominated) with respect to specified property of the organization, and provides for records to be maintained for each series that identify the property of or associated with the series, (b) debt incurred or existing with respect to the activities of, or property of or associated with a particular series is enforceable against the property of or associated with the series only, and not against the property of or associated with the corporation or of other series of the corporation, and (c) debt incurred or existing with respect to the activities or property of the organization is enforceable against the property of the corporation only, and not against the property of or associated with any series of the corporation.
More Definitions of Series organization
Series organization means an organization that, pursuant to the law under which it is organized, has the following characteristics:
(i) The organic record of the organization provides for creation by the organization of 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.
(ii) 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.
(iii) 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.
Series organization means an organization that, pursuant to the law under which it
Series organization means an organization that, pursuant to the law
Series organization means an organization that, pursuant
Series organization means an organization that, pursuant to the law under which it is organized, has
Series organization means an organization
Series organization means an organization that,