SB1142

Missouri SB1142 modifies provisions for series limited liability companies, including liability limitations and registration requirements.

Missouri SB1142 modifies provisions for series limited liability companies, allowing them to have separate rights, powers, and duties. The bill specifies that debts, liabilities, and obligations of a particular series are enforceable only against the assets of that series, not the general assets of the limited liability company or other series. It mandates that each series be individually profiled and searchable on the secretary of state's website. The bill also allows for the dissolution of a series without affecting the limited liability company or other series.