489.14401  Limitations on liability.
  1.  A person is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of any of the following:
  a.  A protected series of a series limited liability company solely by reason of being or acting as any of the following:
  (1)  An associated member, protected-series manager, or protected-series transferee of the protected series.
  (2)  A member, manager, or a transferee of the company.
  b.  A series limited liability company solely by reason of being or acting as an associated member, protected-series manager, or protected-series transferee of a protected series of the company.
  2.  Subject to section 489.14404, all of the following rules apply:
  a.  A debt, obligation, or other liability of a series limited liability company is solely the debt, obligation, or liability of the company.
  b.  A debt, obligation, or other liability of a protected series is solely the debt, obligation, or liability of the protected series.
  c.  A series limited liability company is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of a protected series of the company solely by reason of the protected series being a protected series of the company or the company for any of the following:
  (1)  Being or acting as a protected-series manager of the protected series.
  (2)  Having the protected series manage the company.
  (3)  Owning a protected-series transferable interest of the protected series.
  d.  A protected series of a series limited liability company is not liable, directly or indirectly, by way of contribution or otherwise, for a debt, obligation, or other liability of the company or another protected series of the company solely by reason of any of the following:
  (1)  Being a protected series of the company.
  (2)  Being or acting as a manager of the company or a protected-series manager of another protected series of the company.
  (3)  Having the company or another protected series of the company be or act as a protected-series manager of the protected series.
2019 Acts, ch 26, §20, 41
Referred to in §489.14107, 489.14402