How To Form Series Llc In Texas

How does a series llc work in texas.

How to form series llc in texas. The secretary of state has a separate application for registration form for foreign series llc. Choose a name for your series llc. The llc itself rather than the individual series should register as the legal entity that is transacting business in texas. A series limited liability company or series llc is a limited liability company llc that provides in its governing documents for the establishment of a series of members managers membership interests or assets that have separate rights obligations and liabilities and business purposes from the general master llc. Adopt a plan of conversion as required by the boc 10 101 et seq.

After the series llc is created it will only cost you about 50 in recording filing fees to create each sub series. The first step to forming any type of llc is to first select a name for your new business. Setting up a series llc in texas is a straightforward process. To register your series llc you will need to file the certificate of formation with the secretary of state. The primary benefit of a texas series llc is the start up cost.

Each individual series is protected from losses suffered by the other series llcs and the master llc. When you form a series llc you will register with the secretary of state as a single entity and will only need to pay one fee. The key to creating a protected series llc in texas is drafting a legally correct certificate of formation and operating agreement. The texas series llc like traditional texas llcs corporations and limited partnerships is governed by chapter 101 of the boc. See form 313 word pdf.

This can be done online or by mail. If you want to use our general certificate of formation for a limited liability company form 205 word 159kb pdf 108kb you may do so and add the additional required information in the supplemental text area of the form. Upcounsel accepts only the top 5 percent of lawyers to its site. How can i form a series llc in texas. If each or any series of the llc transacting business in texas transacts business under a name other than the name of the llc the llc must file an assumed name certificate in compliance with chapter 71 of the texas business commerce code.

If you need help forming a series llc texas you can post your legal need on upcounsel s marketplace. The secretary of state does not have a specific form to be used to form a series llc. For example under texas law a series llc s certificate of formation must contain the notice of limitations provided in tex. A texas series llc works by separating the assets and operations of individual series llcs under the umbrella of a master llc. You will also need to pay an annual fee to a registered agent for your series llc texas.