WV SB670

Adopts the Uniform Protected Series Act as Article 14 of the West Virginia Uniform Limited Liability Company Act, allowing LLCs to establish "protected series" as distinct legal entities within a single LLC structure.

Protected series are legally separate persons from the parent LLC, other protected series, and members, with their own capacity to sue and be sued, hold assets, and incur liabilities.

Requires protected series names to begin with the parent LLC's name and include "Protected Series," "protected series," "P.S.," or "PS," with designation filings submitted to the Secretary of State.

Establishes liability shields between the parent LLC, each protected series, and their respective members, preventing creditors of one from reaching assets of another, provided proper recordkeeping requirements are maintained.

Creates comprehensive governance framework including rules for associated members, asset association requirements, management structures, dissolution procedures, merger limitations, and registration requirements for foreign series LLCs operating in West Virginia.