{"id":794,"date":"2016-09-05T17:27:30","date_gmt":"2016-09-05T21:27:30","guid":{"rendered":"http:\/\/www.michaelsmithlaw.com\/blog\/?p=794"},"modified":"2023-11-28T13:36:55","modified_gmt":"2023-11-28T18:36:55","slug":"indiana-series-llcs-part-iv","status":"publish","type":"post","link":"https:\/\/www.hpindiana.law\/business-blog\/indiana-series-llcs-part-iv\/","title":{"rendered":"Indiana Series LLCs, Part IV:  Setting up an Indiana Series LLC"},"content":{"rendered":"<p>The\u00a0<a href=\"https:\/\/www.hpindiana.law\/business-blog\/indiana-series-limited-liability-companies-part\">first<\/a>\u00a0article on series LLCs contained some basic concepts and terminology.\u00a0 The\u00a0<a href=\"https:\/\/www.hpindiana.law\/business-blog\/indiana-series-llcs-part-ii\">second<\/a>\u00a0and\u00a0<a href=\"https:\/\/www.hpindiana.law\/business-blog\/indiana-series-llcs-part-iii\">third<\/a>\u00a0ones addressed the fundamental questions of whether a series is a separate entity (answer:\u00a0 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 the Indiana statute:\u00a0 a portion of the interest in the master LLC designated as the series). We\u2019ll return later to some other metaphysical questions, but this article discusses the more mundane issue, how does one set up a series LLC in Indiana?<\/p>\n<p><u>Organizing the Master LLC<\/u><\/p>\n<p>As with a traditional LLC, a master limited liability company is formed by filing articles of organization<a href=\"#_ftn1\" name=\"_ftnref1\">[1]<\/a> with the Indiana Secretary of State. Ind.\u00a0Code\u00a0\u00a7\u00a023\u201118.1\u20113\u20111 and \u00a7\u00a023\u201118.1\u20116\u20111.\u00a0 An existing LLC can be converted to a master LLC with appropriate amendments to its articles of organization, but the amendment requires unanimous consent of the members, regardless of any provision of the operating agreement permitting the articles of organization to be amended with less than unanimous consent.\u00a0Ind.\u00a0Code\u00a0\u00a7\u00a023\u201118.1\u20113\u20112.\u00a0 It appears that it is permitted, but not necessary, for the articles of organization to include the names of the series that may be designated.\u00a0 See\u00a0Ind.\u00a0Code\u00a0\u00a7\u00a023\u201118.1\u20116\u20117, discussed below.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.hpindiana.law\/business-blog\/indiana-series-llcs-part-iv\/\"  title=\"Continue Reading Indiana Series LLCs, Part IV:  Setting up an Indiana Series LLC\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0first\u00a0article on series LLCs contained some basic concepts and terminology.\u00a0 The\u00a0second\u00a0and\u00a0third\u00a0ones addressed the fundamental questions of whether a series is a separate entity (answer:\u00a0 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 the Indiana statute:\u00a0 a portion [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,18],"tags":[],"class_list":["post-794","post","type-post","status-publish","format-standard","hentry","category-limited-liability-companies","category-small-businesses"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Indiana Series LLCs, Part IV: Setting up an Indiana Series LLC &#8212; Indiana Business Law Blog &#8212; September 5, 2016<\/title>\n<meta name=\"description\" content=\"The\u00a0first\u00a0article on series LLCs contained some basic concepts and terminology.\u00a0 The\u00a0second\u00a0and\u00a0third\u00a0ones addressed the fundamental questions of whether &#8212; September 5, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hpindiana.law\/business-blog\/indiana-series-llcs-part-iv\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael R. Smith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Indiana Series LLCs, Part IV: Setting up an Indiana Series LLC &#8212; Indiana Business Law Blog &#8212; September 5, 2016","description":"The\u00a0first\u00a0article on series LLCs contained some basic concepts and terminology.\u00a0 The\u00a0second\u00a0and\u00a0third\u00a0ones addressed the fundamental questions of whether &#8212; September 5, 2016","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.hpindiana.law\/business-blog\/indiana-series-llcs-part-iv\/","twitter_misc":{"Written by":"Michael R. Smith","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.hpindiana.law\/business-blog\/indiana-series-llcs-part-iv\/#article","isPartOf":{"@id":"https:\/\/www.hpindiana.law\/business-blog\/indiana-series-llcs-part-iv\/"},"author":{"name":"Michael R. 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