Modifying provisions related to series limited liability companies.

HB 2355 modifies Kansas law for series limited liability companies (LLCs), which allow a single LLC to create separate compartments for different assets or projects. The bill permits an LLC or any of its series to elect to consolidate operations as a single taxpayer and business entity for certain purposes. It also allows operating agreements to impose member restrictions and declares that transferring property to hinder, delay, or defraud creditors is void. This directly affects Kansas businesses using series LLC structures to isolate financial risks across different projects or assets.