Uniform Protected Series Act: Coming Soon?
by Jennifer L. Villier, JD | Business Law Faculty, WealthCounsel
Series LLCs, if structured properly, can provide significant liability and asset protections. They have been called the next generation of pass-through entities and are only gaining in popularity and use as states continue to authorize them. However, the lack of state uniformity in the treatment and acceptance of series LLCs has lead more conservative attorneys, advisors, and clients to avoid them due to concerns about the uncertainties and potential risks.
Substantial progress on a uniform act has been made over the past year by the National Conference of Commissioners on Uniform State Laws (NCCUSL). This will likely alleviate outstanding concerns and lead to greater acceptance and use of Series LLCs. Download this article to learn:
- What a Series LLC is;
- Uncertainties around Series LLCs;
- Which states authorized Series LLCs; and
- Status of a Uniform Series LLC Act.