Series LLC Operating Agreement - 1402 Downloads

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Series LLC Operating Agreement
File Size: 183 B
Downloads: 1402
Uploaded on: 2015-11-16 12:41:00
File Name: series-llc-operating-agreement.docx
Download: Free
A series LLC operating agreement is the creation of a series of separate limited liability companies. Each series within the agreement can function as its own individual entity. However, all of the series within the LLC are held to the same liability protection. The "master" operating agreement will function as a basic set of regulations, functions, and liability protection for all of the entities within the series LLC.The content of this agreement is similar to a limited liability operating agreement, but additionally, it states that the LLC is permitted to form series. The content should clearly state the roles and expectations of all of the members involved, as well as the liability protection provided by the LLC. The series LLC operating agreement format should also state that there have been multiple LLC operating agreements signed by each individual member within the "master" LLC. The document also dictates that the individual series within the "master" LLC are held to the operating agreements of the "master" agreement and the individual series' agreements.This series LLC operating agreement sample pertains to a limited liability company that owns three properties, as well as three small businesses located on those properties. This sample will include the expectations of the members within the "master" LLC, as well as the members of the individual properties and businesses.

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