What is the process to set up or managed a Delaware Series LLC?

Under DE law, a limited liability company (LLC) may be composed of an individual series of membership interests. This is known as a series LLC. Under a series LLC, a main LLC can create separate LLCs to hold different assets that may or may not be under common ownership and/or management with the master LLC or any other series. A series LLC can serve many purposes, but it is most utilized by real estate investors who own several properties and companies that own multiple brands. In terms of the process, you have to form an LLC through the DE Secretary of State. Thereafter, you’ll have to detail the “series” within a comprehensive operating agreement.

The pros and cons of setting up a series LLC can be unique to each company so I recommend speaking with a knowledgable business attorney. Feel free to visit LawTrades if you’d like assistance setting up a series LLC. Our legal platform offers free 20-minute consultations w/ experienced startup attorneys. Good luck w/ the venture!