Sec. 4. (a) A series with limited liability must be treated as a separate entity to the extent set forth in the articles of organization of the master limited liability company.
(b) Each series with limited liability may, in its own name, do all the following:
(1) Contract.
(2) Hold title to assets, including real, personal, and intangible property.
(3) Grant liens and security interests.
(4) Sue and be sued.
(5) Otherwise conduct business and exercise the powers of a limited liability company under this article.