Delaware Series LLC
Series LLC Record-Keeping Requirements Series LLC laws clearly outline the conditions for maintaining records of associated assets. The most important condition is that internal records effectively keep the assets of each protected series separate from one another. Records must objectively describe an asset, distinguishing it from those associated with other protected series, or the parent […]
Delaware Series LLC
What Is A South Dakota Series LLC? South Dakota used the Illinois Series LLC as the model for its own Series LLC law. The statute allows a Series LLC to own assets either in its own name, or through one of its protected series. South Dakota requires additional filings to be made in order to […]
Delaware Series LLC
Umbrella LLC Advantages: The business entity is already created; Lower overhead costs (one annual fee instead of multiple); Less oversight is required to keep assets separate since they are held within the same company; Having multiple “incubators” for business lines can accelerate innovation, experimentation, and growth through diversification; Better suited for activities that are low […]
Delaware Series LLC
What Is A Series LLC? In 1996, Delaware amended its LLC Act to give LLCs the power to create an unlimited number of cells separate from the main LLC. These would later be known as “protected series”. Each protected series can have a separate business purpose, separate associated assets and even separate members. These protections […]
Delaware Series LLC
What Is a Series LLC Operating Agreement? The Series LLC Operating Agreement is a private contract between the members of a Series LLC and the one or more members associated with each protected series. This is an internal document that is not filed with the state of formation. The primary function of the Operating Agreement […]
Delaware Series LLC
What Is Captive Insurance? Insurance captives are complex entities that allow a group of companies to insure themselves against their own business risk. Captive insurance is different from commercial insurance where companies simply buy into a fund pool. Policyholders in an insurance captive wholly own the insurance company. Policyholders can exercise control over the insurer’s […]