Although series LLCs are now over eleven years old, they remain mainly theoretical. Only seven states to date have enacted statutes authorizing series LLCs, and the drafters of the recent Revised Uniform Limited Liability Company Act considered and rejected provisions creating series LLCs. Many practicing attorneys continue to use multiple LLCs where a series LLC may be appropriate. This Note examines the general characteristics of series LLCs and state legislation authorizing them, the uncertain state and unanswered questions surrounding this new entity form, and the recent developments in case law and usage of series LLCs. Finally, this Note recommends that state legislators enact enhanced series legislation nation-wide to provide unity and foundation for series LLCs, which will allow attorneys and business owners to reap the benefits of series LLCs.
Series Limited Liability Companies: A Possible Solution to Multiple LLCs,
Chi.-Kent L. Rev.
Available at: https://scholarship.kentlaw.iit.edu/cklawreview/vol84/iss1/11