Child series.

72-03-01-04. Child series. 1 The name of each child series must be: a. Provided in the parent limited liability company's articles or amended articles of organization, or certificate or amended certificate of authority, filed with the secretary of state; and b. Registered as a trade name with the secretary of state under North Dakota Century Code chapter 47-25, with the owner being the parent limited liability company. 2. For transparency purposes, each child series must be named in accordance with one of the following naming convention options: a. The name must begin with the full name of the parent limited liability company, followed by the word "series" and the numeric designation beginning with the number 1; Example: Parent: Grand Properties LLC Child: Grand Properties LLC Series 1 Child: Grand Properties LLC Series 2 or b. Words to further differentiate the series may be a part of the name if the words: (1) Follow the full name of the parent limited liability company; (2) Are offset by a hyphen at the beginning and at the end of the differentiating words; and 2 (3) Are followed by the word "series" and the numeric designation beginning with the number 1. Example: Parent: Grand Properties LLC Child: Grand Properties LLC - Main Street Apartments - Series 1 Child: Grand Properties LLC - Twilight Manor - Series 2 3. If a parent limited liability company amends its name, the name of each child series also must be amended to conform to the naming requirements in this section. a. The amended child series name must be provided in the amended articles of organization or amended certificate of authority in which the parent limited liability company amends its name; and b. The trade name of each child series must be canceled and a new trade name must be registered. History: Effective July 1, 2020. General Authority: NDCC 10-32.1-102(14) Law Implemented: NDCC 10-32.1-102