To make sure your chosen name is available, run a search in the Nevada Secretary of State’s business name database before naming your Series LLC. The name needs to be original and unregistered with the state. Additionally, it must adhere to Nevada naming regulations, which stipulate that the name must contain the phrase “Limited Liability Company” or the abbreviation “LLC.”
The next step is to choose a title for your series. A Series LLC must have a distinct name for each series. This name might be connected to the principal LLC name or completely unrelated. As an illustration, if the primary name of your LLC is “ABC Company LLC,” you may call the first and second series, respectively, “ABC Company LLC Series 1” and “ABC Company LLC Series 2.”
You must submit a certificate of amendment to the Nevada Secretary of State if you decide to rename your series in a manner that differs from your principal LLC name. The new series name will be added to your LLC’s articles of formation by means of this document. The amendment can be sent in by mail or online.
In Nevada, is it possible to act as your own registered agent? You can act as your own registered agent for your LLC in Nevada, yes. However, in order to receive legal and official documents on behalf of the LLC, the registered agent must have a physical address in Nevada and be accessible during regular business hours. If you don’t have a Nevada home, a registered agent service can take care of these responsibilities on your behalf. Which States Permit Series LLCs?
Presently, 18 states—Alabama, Delaware, Illinois, Indiana, Iowa, Kansas, Minnesota, Missouri, Montana, Nevada, North Dakota, Oklahoma, Puerto Rico, Tennessee, Texas, Utah, Wisconsin, and Wyoming—permit the formation of Series LLCs. What are the Advantages of a Series LLC?
The fundamental advantage of a Series LLC is that it enables a corporation to divide its operations and assets into various series. The firm and its assets are better protected because each series is recognized as a separate entity for liability and tax reasons. Additionally, because each series operates under a single parent LLC structure, a series LLC can save time and money on administrative responsibilities. How Can I Convert My LLC into a Series?
You must submit a certificate of conversion to the Nevada Secretary of State in order to convert your LLC into a Series LLC. With the help of this document, you can change your current LLC into a Series LLC and add more series to the main LLC structure. For your LLC’s articles of organization to reflect the new series names, you must additionally submit a certificate of amendment.
The naming of a Series LLC in Nevada necessitates careful study and adherence to state naming regulations. By following the procedures explained above, you may select a distinctive name for each series inside of your Series LLC and take advantage of this cutting-edge organizational design. Keep in mind that you are permitted to act as your own registered agent in Nevada, subject to compliance with applicable laws. Finally, find out if other states permit Series LLCs by contacting them, and learn the advantages and procedure for converting your LLC to a Series LLC.