Nature of protected status

Nature of protected status. — A protected series of a series limited liability company is a person distinct from all of the following: (1) The series limited liability company, subject to ss. 605.2104 (3), 605.2501 (1), and 605.2502 (4). (2) Another protected series of the series limited liability company. (3) A member of the series limited liability company, regardless of whether the member is an associated member of the protected series of the series limited liability company. (4) A protected-series transferee of a protected series of the series limited liability company. (5) A transferee of a transferable interest of the series limited liability company.