A protected series of a series limited liability company is a person distinct from all of the following: 1. The company, subject to section 489.14104, subsection 3, section 489.14501, subsection 1,and section 489.14502, subsection 4. 2. Another protected series of the company. 3. A member of the company, whether or not the member isan associated member of the protected series. 4. A protected-series transferee of a protected series of the company. 5. A transferee of a transferable interest of the company.
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