16-20-1009. Foreign limited liability company -- Series.
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/ut/title-16/chapter-20/16-20-1009A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Effective 10/1/2026
16-20-1009. Foreign limited liability company -- Series.
(1)A foreign limited liability company that is registered to do business in this state that is governed by an operating agreement that establishes or provides for the establishment of a series of transferable interests having separate rights, powers, or duties with respect to specified property or obligations of the foreign limited liability company, or profits and losses associated with the specified property or obligations, shall indicate that fact on the foreign registration statement filed by the division.
(2)The foreign limited liability company shall state on the foreign registration statement whether the debts, liabilities, and obligations incurred, contracted for, or otherwise existing with respect to a particular series, if any, are enforceable against the assets of such series only, and not against the assets of the foreign limited liability company generally or any other series.
(3)Notice in a foreign limited liability company's foreign registration statement of the limitation on liability of a series as referenced in this section shall have the same effect found in Section 16-20-1002 as a notice of limitation on liability of a series set forth in a limited liability company's certificate of organization.
Renumbered and Amended by Chapter 92 , 2026 General Session