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November 1, 2013Texas Journal of Business Law
Volume 45, Issue 3 of the Texas Journal of Business Law
This is the entire issue in a single PDF document.
November 1, 2012Jennifer Avery, David Lawrence, Todd Lowther, Karen Rose, Joshua Russ, Brandon Schubert, Andrew Wootton, Travis Youngblood
Series LLCs: Nuts and Bolts, Benefits and Risks, and the Uncertainties That Remain
A series limited liability company (“Series LLC”) is a variation of the traditional limited liability company (“Traditional LLC”) that is available under several states’ limited liability company (“LLC”) statutes. A Series LLC is, effectively, a collection of subunits within one LLC that can be created according to statute without actually forming multiple LLCs. Under a typical Series LLC statute, found in Delaware, Texas, Illinois, and several other states, a Series LLC can have as many different, individual series as the members desire, and each series looks and acts almost exactly like a separate LLC. In effect, a Series LLC is a way around creating multiple LLCs – only a single entity need be created, but assets, ownership and, therefore, liability, can be allocated exactly as if multiple entities had been formed.