Series LLC question.....

7 Replies

Does anybody know When you have a Series LLC in the state of Illinois if you are allowed to make business under the series or can it be applied only to properties..

Thanks for the reply, I tried that and they said they are not allowed to give any advice or information on how-to's or anything. They said to consult an attorney which I did and am awaiting an answer.

Asking state commissions anything is an exercise in futility. I can't tell you how many times I've heard the answer from a state or city board "we cannot answer legal questions."

What's the point of answering the phones if they can't answer questions about the laws and guidelines they themselves establish!

ARGH! - That is one of my pet peeves . . . :pissed:

That's part of it, however, the problem is that these government offices are protecting themselves from lawsuits. They refuse to give out info out of fear of being sued for giving out the wrong info.

Welcome to 21st century America!

Originally posted by "AdrianG":
Does anybody know When you have a Series LLC in the state of Illinois if you are allowed to make business under the series or can it be applied only to properties..

Treat the designations in your Series LLC as you would a normal LLC. So, yes you can keep non-real estate assets in a Series LLC designation.

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