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Identifying Series LLCs: Not All Series LLCs Were Created Equal (Wisconsin Department of Financial Institutions)

November 12, 2007 1:00 p.m. - 2:00 p.m.
Wisconsin Department of Financial Institutions
When limited liability companies were rising to prominence two decades ago, banks and other creditors were concerned about the legal status of an LLC and the extent of liability protection that might be afforded to this new type of business entity. Banks had no choice but to accept a certain degree of risk inherent to lending to an LLC, a risk that was exacerbated by a lack of guidance from the courts.

Although LLCs are now a widely utilized and advantageous structure for many businesses, the cost of organizing a new LLC for each of the business' endeavors can be prohibitively high. To address this issue, some states have enacted statutes that permit the formation of a new type of LLC - the "series LLC."

This presentation provided an overview of series LLCs and addressed the following specific questions:

  • Has every state enacted statutes authorizing series LLCs?
  • Are all series LLC statutes the same?
  • How do I form a series LLC in Wisconsin and Illinois?
  • How do I know when I'm working with a series LLC?
  • Should I be concerned about transacting business with a series LLC?
  • Should creditors be concerned about lending to a series LLC?

The PowerPoint slides for this presentation are available upon request.  Please contact Melanie Bloom for more information.

Location
Wisconsin Department of Financial Institutions
345 West Washington Avenue
Madison, WI

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