KS HB2355

LLCs and their series may elect to consolidate operations as a single taxpayer for filing consolidated tax returns and elect treatment as a single business for qualification to do business in Kansas or other states, without affecting liability protections unless series specifically accept joint liability by contract

Operating agreements may impose restrictions, duties, and obligations on LLC members including choice of law/forum selection, capital contributions, transfer restrictions, noncompetition and nonsolicitation covenants, fiduciary duties, and obligations benefiting the LLC or its affiliates

Wrongful transfer of property from one series to another series or to the LLC as a whole with intent to hinder, delay, or defraud creditors shall be deemed void under K.S.A. 33-102

Amends K.S.A. 17-76,143 governing series LLCs and takes effect upon publication in the statute book