Sec. 1. (a) A master limited liability company must be organized in accordance with IC 23-18-2 and its articles of organization must authorize the designation of one (1) or more series. (b) A foreign master limited liability company must be: (1) authorized to transact business in Indiana in accordance with IC 23-0.5-5 ; and (2) organized under a law that allows for the designation of one (1) or more series. Its articles of organization must authorize the designation of one (1) or more series.
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