Arkansas Series Limited Liability Company Definition

Arkansas Series Limited Liability Company

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. 7 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.