489.14104  Powers and duration of protected series.
  1.  A protected series of a series limited liability company has the capacity to sue and be sued in its own name. 
  2.  Except as otherwise provided in subsections 3 and 4, a protected series of a series limited liability company has the same powers and purposes as the company. 
  3.  A protected series of a series limited liability company ceases to exist not later than when the company completes its winding up.
  4.  A protected series of a series limited liability company shall not do any of the following:
  a.  Be a member of the company.
  b.  Establish a protected series.
  c.  Except as permitted by law of this state other than this subchapter, have a purpose or power that the law of this state other than this subchapter prohibits a limited liability company from doing or having.
2019 Acts, ch 26, §4, 41; 2023 Acts, ch 152, §129, 161
Referred to in §489.14103, 489.14107