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John Williams to Present Seminar on Drafting Series LLC Operating Agreements

By John Williams | Published August 25, 2013

On October 24, 2013, John Williams will be presenting a national teleconference on the Series LLC. It is designed to be an advanced continuing legal education seminar for attorneys from across the country. It is an honor to be asked to present to such a wide audience of attorneys. A few months back, John Williams presented a similar national teleconference for attorneys practicing LLC law related to real estate sponsored by the American Bar Association.

John has been forming Series LLCs in Delaware since 2003 and even registered the domain name

He has helped over 1000 people form series LLCs.

Here is the outline for the call.

I. Series LLC Origins
A. Mutual Funds
B. Operating Agreements
C. Amendments

II. Basic Series LLC Agreement Structure
A. Operating Agreements
B. Amendments
C. Members Associated with Company
D. Members Associated with Series

III. Series LLC Evolution
A. Different Applications
B. Courts
D. Bankruptcy

IV. Series LLC Today
A. Series LLC in Delaware versus other states
B. Names of Managers, Members and “Cells”
C. Creating New Cells and Their Relation to the Series
1. “False Conflict”
2. “Recognition”
D. Appointing Series and Cell Managers
1. Level of Control
2. Description of Responsibility
3. Member Buy Out
E. Membership Interests – Admission of Members, Creating New Interests, Transfer/Disposition of Interests
F. Distribution of Profits and Losses
G. Dispute Resolution
H. Liability and Fiduciary Duties
I. Bankruptcy in the Series or Cells

V. Series LLCs Doing Business in “Non-Series” States

VI. Series LLCs Tomorrow
A. Model Series Provisions
B. 50 States
C. International

VII. Advanced Series LLC Operating Agreement Issues

When deciding where to form your company, consider that Delaware has advantages over your home state that may benefit you. Go