The law of this State governs: (1) the internal affairs and organization of a limited liability company; (2) the liability of a member as member and a manager as manager for the debts, obligations, or other liabilities of a limited liability company; (3) the internal affairs and establishment of a series of a limited liability company; (4) the liability of a member or a manager associated with a series for the debts, obligations, or other liabilities of the series; and (5) the liability of a series for the debts, obligations, or other liabilities of the limited liability company that established the series or for another series established by the limited liability company, and the liability of the limited liability company for the debts, obligations, or other liabilities of a series established by the limited liability company. limited liability company; manager as manager for the debts, obligations, or other liabilities of a limited liability company; series of a limited liability company; associated with a series for the debts, obligations, or other liabilities of the series; and obligations, or other liabilities of the limited liability company that established the series or for another series established by the limited liability company, and the liability of the limited liability company for the debts, obligations, or other liabilities of a series established by the limited liability company. (805 ILCS 180/Art. 5 heading) Article 5. Organization
‹ Prev All Illinois sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.