Section 21-517 - Protected-series transferable interest(a) A protected-series transferable interest of a protected series of a series limited liability company must be owned initially by an associated member of the protected series or the company.(b) If a protected series of a series limited liability company has no associated members when established, the company owns the protected-series transferable interests in the protected series.(c) In addition to acquiring a protected-series transferable interest under subsection (b) of this section, a series limited liability company may acquire a protected-series transferable interest through a transfer from another person or as provided in the operating agreement.(d) Except for subdivision (a)(3) of section 21-508, a provision of the Nebraska Uniform Protected Series Act which applies to a protected-series transferee of a protected series of a series limited liability company applies to the company in its capacity as an owner of a protected-series transferable interest of the protected series. A provision of the operating agreement of a series limited liability company which applies to a protected-series transferee of a protected series of the company applies to the company in its capacity as an owner of a protected-series transferable interest of the protected series.Neb. Rev. Stat. §§ 21-517
Laws 2018, LB 1121, § 18; Laws 2019, LB 78, § 8.Amended by Laws 2019, LB 78,§ 8, eff. 9/1/2019, op. 1/1/2021.Added by Laws 2018, LB 1121,§ 18, eff. 1/1/2021.