(1) With the affirmative vote or consent of all members of a limited liability company, the company may establish a protected series.
(2) To establish a protected series, a limited liability company shall deliver to the department for filing a protected series designation, signed by the company, stating the name of the company and the name of the protected series to be established, and any other information the department requires for filing.
(3) A protected series is established when the protected series designation takes effect under s. 605.0207. (4) To amend a protected series designation, a series limited liability company shall deliver to the department for filing a statement of designation change, signed by the company, that sets forth the following:(a) The name of the series limited liability company and the name of the protected series to which the change to the protected series designation applies;
(b) Each change to the protected series designation; and
(c) A statement that each designation change was approved by the affirmative vote or consent of the members of the series limited liability company required to make each change to the protected series designation.
(5) Each designation change made pursuant to subsection (4) takes effect when the statement of designation change takes effect under s. 605.0207. 
