An innovative approach is presented for the reliability analysis of aging multistate systems that considers the subsystems and their components' dependency. A reliability function is determined for an aging series system with the component dependency following the local load‐sharing rule, and a reliability function is determined for an aging “m out of n” system with the component dependency following the equal load‐sharing rule. Linking the results of those load‐sharing models, a mixed‐dependency model for multistate “m out of l”‐series systems is constructed by assuming the dependence between subsystems connected in series under the local load‐sharing rule and the dependence between their components under the equal load‐sharing rule. As a special case, the reliability of this system, modeled using piecewise exponential reliability functions, is considered, and the results are applied to characterize shipyard rope elevator reliability. Finally, the maintenance of this elevator as a repairable multistate system is analyzed with the time of renovation ignored.