Requirements for sale, lease, exchange, or other disposition of assets

Sec. 6. 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. As added by P.L.170-2016, SEC.19.