How To Form Series Llc In Texas

The texas series llc like traditional texas llcs corporations and limited partnerships is governed by chapter 101 of the boc.

How to form series llc in texas. How can i form a series llc in texas. For example under texas law a series llc s certificate of formation must contain the notice of limitations provided in tex. 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 secretary of state does not have a specific form to be used to form a series llc. The first step to forming any type of llc is to first select a name for your new business.

The primary benefit of a texas series llc is the start up cost. 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 key to creating a protected series llc in texas is drafting a legally correct certificate of formation and operating agreement. If you need help forming a series llc texas you can post your legal need on upcounsel s marketplace. After the series llc is created it will only cost you about 50 in recording filing fees to create each sub series.

Each individual series is protected from losses suffered by the other series llcs and the master llc. Adopt a plan of conversion as required by the boc 10 101 et seq. There is a one time state filing fee of 308 10 to create the series llc or master llc 500 if you want to have us to create your series llc. Choose a name for your series llc. Setting up a series llc in texas is a straightforward process.

How does a series llc work in texas. Upcounsel accepts only the top 5 percent of lawyers to its site. See form 313 word pdf. You should choose a name that is memorable and also one that briefly describes what your business does or what your organization stands for. 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.

This can be done online or by mail. The llc itself rather than the individual series should register as the legal entity that is transacting business in texas. You will also need to pay an annual fee to a registered agent for your series llc texas. A texas series llc works by separating the assets and operations of individual series llcs under the umbrella of a master llc. 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.