A protected series of a series limited liability company is a person distinct from:

1. (1) The company, subject to §31B-14-104(c), §31B-14-501(1), and §31B-14-502(d);
2. (2) Another protected series of the company;
3. (3) A member of the company, whether or not the member is an associated member of the protected series;
4. (4) A protected-series transferee of a protected series of the company; and
5. (5) A transferee of a distributional interest of the company.