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ARTICLE · 06 JUNE 2024

Decoding Delaware Series LLCs: Maximizing Benefits And Minimizing Risks

Caldwell Law
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In 1996, Delaware was the first state to introduce and permit the formation of a Series LLC. A Series LLC is an entity structure that stands as an alternative to setting up multiple individual LLCs.

United StatesCorporate/Commercial Law
Marcus Wolter
Marcus Wolter
Bianca Lindau
Bianca Lindau
Elizabeth Bestwick
Elizabeth Bestwick
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What is a Series LLC?

In 1996, Delaware was the first state to introduce and permit the formation of a Series LLC. A Series LLC is an entity structure that stands as an alternative to setting up multiple individual LLCs. Within a Series LLC multiple segregated series or cells are created within a single LLC with horizontal liability shields between each series. This article provides an overview of Series LLCs, focusing on the two different types of Series LLCs in Delaware, the benefits and the risks and mitigation of risks associated with this entity type.

The Delaware Protected Series LLC and Registered Series LLC

There are two types of Delaware Series LLCs: a Protected Series LLC and a Registered Series LLC. While both offer similar rights, powers and obligations, there are minor differences in the process of setting them up. This includes naming conventions for series, appointing registered agents, drafting and adopting an amended operating agreement,

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