Demystifying the Series LLC

By 1996 all 50 states and the District of Columbia had enacted limited liability company (LLC) statutes. However, Delaware was the only state to enact legislation permitting the use of the Series LLC. To date, there still remains only a few states that have adopted Series LLC statutes. Since this is a relatively new form of business ownership, it is not widely adopted throughout the United States. The absence of widespread adoption coupled with the novelty of Series LLCs means that the laws regarding Series LLCs are extremely vague and unclear. But what is a Series LLC exactly? The Series LLC was initially developed to allow a parent company to segregate funds without the need to file separa

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