SB670

Adopts the Uniform Protected Series Act to regulate protected series of series limited liability companies.

Adopts the Uniform Protected Series Act to regulate protected series of series limited liability companies. It defines terms, establishes rules for naming and designating protected series, and specifies the powers and duration of protected series. The act also details the effect of mergers, dissolution, and winding up of protected series, and outlines the liability limitations for protected series, series limited liability companies, members, transferees, and managers.