I’ve written before about the need for the owners of small businesses to have at least three professionals: a business lawyer, a tax accountant, and an insurance broker. Because it has been a while, and because the advice is so important, I decided to write about it again. Thinking about a group of…
This is the last of eight articles on series LLCs and the new Indiana series LLC statute that will take effect on January 1, 2017. Earlier articles are: Part I, Basic concepts and terminology Part II, Is a series an entity? Part III, What constitutes a series? Part IV, Setting…
Earlier articles on the topic of Indiana series LLCs are here: Part I, Basic concepts and terminology Part II, Is a series an entity? Part III, What constitutes a series? Part IV, Setting up an Indiana series LLC Part V, Operating agreements for Indiana series LLCs Part VI, Alternatives for…
If you are not already familiar with series LLCs or with the new Indiana series LLC statute that takes effect on January 1, 2017, you may want to read the articles at Part I, Part II, Part III, Part IV, and Part V. In the first of these articles, I compared a series…
[The previous articles on this topic are here: Part I, Part II, Part III, Part IV.] Now that we’ve discussed the formal public filings necessary to set up a master LLC and series, we’ll turn out attention to the content of operating agreements. As mentioned in the last post, every…
The first article on series LLCs contained some basic concepts and terminology. The second and third ones addressed the fundamental questions of whether a series is a separate entity (answer: yes, but it lacks some of the attributes of a separate entity) and of what defines or constitutes a series (answer, at least as contemplated by…
[Please read Part I and Part II before reading this article.] The second of this group of articles on series limited liability companies addressed the question of whether a series is an entity under Indiana law and concluded that the best answer is probably, yes, even though it lacks some…
[This is the second of several articles on series LLCs, especially Indiana series LLCs. Go here for Part I, which includes an introduction to the concept of series LLCs and some terminology.] Is a series an entity? That’s the question almost every lawyer asks when first introduced to series LLCs. It…
This is the first of several articles about series limited liability companies in general and Indiana’s new series limited liability company statute in particular – a “series series” of articles. (Sorry. I couldn’t resist.) Even as lame as that joke is, it demonstrates that terminology in this area can be very…
On March 23, Indiana’s governor signed House Enrolled Act 1336 which adds to the Indiana Business Flexibility Act to provide for series LLCs. In general, I think it’s a good thing that Indiana has joined the dozen or more other states (plus D.C. and Puerto Rico) with series limited liability companies. I…