Section 23-18.1-3-6 - Requirements for sale, lease, exchange, or other disposition of assets A sale, lease, exchange, or other disposition of all or substantially all of the assets of a series limited liability company is not effective unless one (1) or more of the following apply:
(1) The transaction is in the usual and regular course of business.(2) The transaction is approved by two-thirds (2/3) of the members, unless otherwise provided for in the operating agreement.Added by P.L. 170-2016, SEC. 19, eff. 1/1/2017.