Series LLCs

To better organize your Special Purpose Vehicles (SPV), you can set up a Series LLC with your entity as the Master LLC and your SPVs as Series LLCs. Consolidating your investments helps free up space on your cap table, while also shielding liability by forming more Limited Liability Companies. The Master LLC corporate governance documents govern the relationship between itself and the Series as well as between each of the Series. However, because liability is limited in this organizational setup, the debts and liabilities of one Series should not affect the health of the others. 

Series LLCs can be formed in the following jurisdictions: Delaware, Texas, Tennessee, Utah, Nevada, Illinois, Oklahoma, Iowa, Arkansas, Virginia, Nebraska, and Colorado. Each jurisdiction has its own requirements within their respective codes regarding Series LLC formation. Currently, the PaperOS platform only supports the formation of Delaware Series LLCs. When a Series is formed, each Series may act as its own separate entity with its own members, managers, and documents so long as they operate in accordance with that of the Master LLC. 

PaperOS is not an attorney or a law firm, and can only provide self-help services at your specific direction. Do not rely on any documents or information from PaperOS without consulting an attorney. PaperOS may partner with or refer clients to licensed attorneys, but such referral does not constitute an attorney-client relationship until the attorney is officially engaged by the client.