1. Only a member of a series limited liability company may be an associated member of a protected series of the company. 2. A member of a series limited liability company becomes an associated member of a protected series of the company ifthe operating agreement or a procedure established by the agreement states all of the following: a. That the member isan associated member of the protected series. b. The date on which the member became an associated member. c. Any protected-series transferable interest the associated member has in connection with becoming or being an associated member. 3. If a person that isan associated member of a protected series of aseries limited liability company is dissociated from the company, the person ceases to be an associated member of the protected series.
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