How To Form Series Llc In Texas

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.

How to form series llc in texas. You should choose a name that is memorable and also one that briefly describes what your business does or what your organization stands for. 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. The first step to forming any type of llc is to first select a name for your new business. See form 313 word pdf. For example under texas law a series llc s certificate of formation must contain the notice of limitations provided in tex.

The secretary of state has a separate application for registration form for foreign series llc. Choose a name for your series llc. Each individual series is protected from losses suffered by the other series llcs and the master llc. 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. The texas series llc like traditional texas llcs corporations and limited partnerships is governed by chapter 101 of the boc.

Changes made to the boc in 2009 including authorization of the series llc along with subsequent improvements have made it a model of progressive legislation and improved texas already deserved reputation as an. The secretary of state does not have a specific form to be used to form a series llc. How does a series llc work in texas. You will also need to pay an annual fee to a registered agent for your series llc texas. Setting up a series llc in texas is a straightforward process.

The primary benefit of a texas series llc is the start up cost. The key to creating a protected series llc in texas is drafting a legally correct certificate of formation and operating agreement. After the series llc is created it will only cost you about 50 in recording filing fees to create each sub series. This can be done online or by mail. Adopt a plan of conversion as required by the boc 10 101 et seq.

How can i form a series llc in texas. If you need help forming a series llc texas you can post your legal need on upcounsel s marketplace. A texas series llc works by separating the assets and operations of individual series llcs under the umbrella of a master llc. Upcounsel accepts only the top 5 percent of lawyers to its site. The llc itself rather than the individual series should register as the legal entity that is transacting business in texas.