Sec. 10. (a) A master limited liability company and any of its series may elect any of the following: (1) To consolidate their operations as a single taxpayer to the extent permitted under applicable law. (2) To work cooperatively. (3) To contract jointly. (4) To be treated as a single business for purposes of qualification to do business in Indiana or any other state. (b) Any elections under subsection (a) do not affect the limitation of liability set forth in IC 23-18.1-5-1 except to the extent that two (2) or more series have specifically accepted joint or joint and several liability by contract. IC 23-18.1-5 Chapter 5. Limits on Liability 23-18.1-5-1 Liability limited; conditions 23-18.1-5-2 Holding of assets; accounting for assets separately 23-18.1-5-3 Notice of limitation on liabilities established
‹ Prev All Indiana 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.