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.
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Terms Used In Indiana Code 23-18.1-4-4
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
(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.
