1. A. Only a member of a series limited liability company may be an associated member of a protected series of the series limited liability company.

2. B. A member of a series limited liability company becomes an associated member of a protected series of the series limited liability company if the operating agreement or a procedure established by the operating agreement states:

   1. 1. That the member is an associated member of the protected series;
   2. 2. The date on which the member became an associated member; and
   3. 3. Any protected series membership interest the associated member has in connection with becoming or being an associated member.
3. C. If a person that is an associated member of a protected series of a series limited liability company is dissociated from the series limited liability company, the person ceases to be an associated member of the protected series.

2019, c. 636.