Arkansas Series Limited Liability Company Definition
Arkansas Series Limited Liability Company
DEFINITION
A series LLC (SLLC) is an LLC whose agreement provides for the establishment of 1 or more
designated series of members, managers, limited liability company interests, or assets which have
separate rights, powers, or duties with respect to assets and liabilities.
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Series Limited Liability Companies:
• Each series can have a separate business or investment purpose.
• SLLCs provide both vertical (series to LLC) and horizontal (series-to-series)
liability protection.
• An individual can be a member/manager of more than one series, and each series can have
more than one member/manager.
• Each series must maintain its own books and records.
• The master LLC and series LLC(s), also called Protected Series or PS, must establish a
master operating agreement that, at a minimum, establishes the designated series of
transferable interest, intended limitation on liabilities, and may provide for different classes
of group of members or mangers associated with a series with varying economic and voting
rights, powers, and duties.
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