The Pros And Cons Of Series LLCs

Law360, New York (November 16, 2015, 3:30 PM EST) -- A series limited liability company is an entity structure permitted in certain states that allows for the formation of multiple segregated LLCs (or series) under the umbrella of a single "master" LLC. Generally, in the states in which they are recognized, these series LLCs are viewed as segregated entities that are permitted to have separate managers and members, distinct assets and individual operating agreements, and which can incur separate liabilities. However, the series LLC is still viewed from the states' perspective as a single entity for filing and reporting purposes.

The most notable advantage of series LLCs comes in the form...

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