Series LLC in the United States: A State-by-State Analysis

The Series LLC, commonly referred to as a “cellular” LLC, is a special kind of limited liability corporation that permits the formation of different legal entities inside of a single LLC structure. While still being a part of the larger LLC, these distinct companies, known as “series,” may have their own assets, liabilities, and members. Due to their adaptability and affordability, Series LLCs have grown in popularity in recent years; nevertheless, not all states view them as a legal form of corporate organization. The major query in this article, “Does Florida Have Series LLCs?” will be addressed as we examine the state-by-state analysis of Series LLCs. We will also respond to inquiries related to whether Series LLCs are recognized by other states and whether or not LLCs are registered businesses under the UCC. Series LLCs and Florida

One of the few states, Florida, accepts Series LLCs as legal corporate structures. The establishment of a Series LLC is permitted in the state thanks to the Florida Series LLC Act, which took effect on July 1, 2020. Florida allows for the creation of several series of series LLCs, each having its own assets, liabilities, members, managers, and business objectives. In Florida, a series LLC also has the advantage of being able to change into a conventional LLC or another kind of corporate entity. Series and New Hampshire LLCs

Another state that accepts Series LLCs as a legitimate corporate entity is New Hampshire. A Series LLC may be formed in the state of New Hampshire thanks to legislation that took effect on January 1, 2021. In New Hampshire, Series LLCs can have numerous series, each with its own assets, liabilities, members, managers, and business objectives, similar to Florida. Pennsylvania Series LLCs and LLCs Series LLCs are not currently accepted as legal corporate structures in Pennsylvania. However, a law that would permit the establishment of Series LLCs in the state is currently being debated in the state assembly. The House Committee on Judiciary is now deliberating about the legislation, known as House Bill 1301, which was submitted in April 2021. LLCs as well as the UCC Organizations registered under the Uniform Commercial Code (UCC) include LLCs. The UCC is a body of legislation that regulates business dealings in the US. According to the UCC, LLCs are a kind of commercial organization that is able to own and transfer property, make contracts, and amass debt. Delaware LLCs and Series LLCs Series LLCs are recognized as a legitimate corporate entity in Delaware, which is renowned for its business-friendly environment. The establishment of a Series LLC is permitted in the state thanks to the Delaware Series LLC Act, which took effect on August 1, 2019. In Delaware, Series LLCs can have numerous series, each with its own assets, liabilities, members, management, and business objectives, similar to Florida and New Hampshire.

In conclusion, Series LLCs are a growingly well-liked business form because of their adaptability and affordability. Florida, New Hampshire, and Delaware are a few of the states that do recognize them as legal company structures, albeit not all states do. The formation of Series LLCs in Pennsylvania is now being considered as a piece of legislation in Pennsylvania. Under the UCC, which regulates business transactions in the US, LLCs are also recognized as registered organizations.