8 Questions
Who must be outlined in the master operating agreement for a series within a series LLC?
Series members, managers, or officers with authority to act
What characteristic of a series must be established in the master operating agreement to insure it?
Authority to convey or hold title
What is a distinctive feature of a Series LLC?
Each Series can have its own Members and Managers
What distinguishes a Series within a Series LLC from a separate legal entity?
Can conduct business independently of the Master Series
Which state is mentioned as a pioneer in enacting Series LLC statutes?
Delaware
What must a Series within a Series LLC obtain from the Florida Department of State?
Certificate of certificate of authority
In what way does each Series within a Series LLC benefit from limited liability?
Each Series is protected from liabilities of other Series and the Master Series
What is required to insure title for a Series within a Series LLC?
Proof of good standing of the Master series from any state
Learn about the structure of a Series LLC in Delaware where a Master LLC, also known as the Master Series, is created with one or more offshoots called Series. Each Series can have its own Members and Managers, conducting business independently of the Master Series.
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