{"data":{"id":"us-al/ala.-code-10a-5a-11.01","jurisdiction":"us-al","citation":"Ala. Code § 10A-5A-11.01","heading":"Series of Assets.","body":"(a) If a limited liability company complies with Section 10A-5A-11.02, a limited liability company agreement may establish or provide for the establishment of one or more designated series of assets that:\n(1) has separate rights, powers, or duties with respect to specified property or obligations of the limited liability company or profits and losses associated with specified property or obligations; or\n(2) has a separate purpose or investment objective.\n(b) A series established in accordance with subsection (a) may carry on any activity, whether or not for profit.\n(c) After a person is admitted as a member of a limited liability company in accordance with Section 10A-5A-4.01, a member is associated with a series of the limited liability company:\n(1) as provided in the limited liability agreement;\n(2) as the result of a transaction effective under Article 10; or\n(3) with the consent of all members associated with that series.","path":["Title 10A Alabama Business and Nonprofit Entities Code.","Chapter 5A Alabama Limited Liability Company Law of 2014.","Article 11 Series Provisions."],"source_url":"https://alison.legislature.state.al.us/code-of-alabama?section=10A-5A-11.01","current_through":"Act 2026-611","vintage":"","retrieved_at":"2026-09-03T14:01:53Z","sha256":"7e1b209bb474fb5936f9cebd715f75234b4ceeb75247f5c5831490006748cc13","source_id":"us-al","stale":false,"prev":"us-al/ala.-code-10a-5a-10.10","next":"us-al/ala.-code-10a-5a-11.02"},"notice":"GroundRules: Original legal text. Not legal advice."}