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Florida Owner's Sworn Statement Concerning Direct Contracts Form -...

Form A Limited Liability Company With The Ability To Establish Series

Category:

Liens - Construction - Mechanics

State:

Florida

Control #:

FL-03224A

Format:

Instant download

Description

The form to establish a limited liability company with the ability to establish series provides a structured method for individuals or groups to create a legal entity that can manage multiple series of assets or operations while limiting liability. This form is particularly beneficial for attorneys, partners, owners, associates, paralegals, and legal assistants, as it allows them to efficiently organize and protect multiple business ventures under a single company. Key features include the flexibility to allocate resources and liabilities among different series, thereby simplifying management and operational protocols. Additionally, the form outlines specific filling instructions, ensuring proper completion and legal compliance. Users must provide essential information, including the name of the LLC, the designation of series, and the registered agent’s details. The form also includes sections for members' contributions, profit distribution, and management structure. This form is suitable for various use cases, such as real estate investments, franchise operations, or holding multiple business lines, making it a valuable tool for legal practitioners and business owners alike.

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How to fill out Florida Owner's Sworn Statement Concerning Direct Contracts Form - Construction - Mechanic Liens - Corporation Or LLC?

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By following these steps, you can efficiently set up your LLC with the option to establish series. Get started today and experience the ease of legal documentation with US Legal Forms!

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FAQ

A Series LLC can be a good idea if you plan to manage multiple ventures or assets. It offers the benefit of simplified administration, as you only need to file one set of formation documents for the entire series. Additionally, it provides liability protection among series, meaning that issues in one series won’t affect the others. If you aim to form a limited liability company with the ability to establish series, consider how it aligns with your business goals.

A limited liability company with the ability to establish series allows you to manage multiple business entities under one LLC framework. Each series can operate independently, with its own assets, members, and liabilities. This structure provides a level of protection that isolates risks between series, making it an attractive option for entrepreneurs. By choosing to form a limited liability company with the ability to establish series, you maximize your management capabilities.

To set up a Series LLC, begin by choosing a suitable name and filing your formation documents with your state. You will also need to indicate that you intend to create a Series LLC. After that, you can establish each series under the umbrella of the primary LLC, detailing their unique operations. Use platforms like uslegalforms to streamline the process and ensure you meet all legal requirements.

A limited liability company that has the ability to establish series is known as a Series LLC. This type of entity allows you to create one LLC with multiple series, each functioning as its own unit. Each series can engage in different business activities and have distinct assets and liabilities, protecting the parent company from risks associated with individual series. Form a limited liability company with the ability to establish series to enhance your business flexibility.

Yes, you can change your LLC to a Series LLC. This process involves creating a new structure that allows your company to operate multiple series under one umbrella. Each series can hold its assets and liabilities separately, providing additional protection. To achieve this, you will need to follow specific state regulations that govern the formation of a Series LLC.

While a Series LLC offers many benefits, it does have some downsides. For instance, not all states recognize Series LLCs, which may complicate interstate operations. Additionally, maintaining compliance for each series can increase administrative burdens. Therefore, it’s wise to consult support from services like US Legal Forms to navigate these challenges effectively.

The main purpose of a Series LLC is to offer protection for each series from liabilities incurred by other series within the same LLC. This structure is beneficial for managing multiple projects or investments as it helps segregate risks. Additionally, it can reduce administrative costs compared to forming multiple separate LLCs. By using US Legal Forms, you can easily set up your Series LLC and enjoy these advantages.

You can convert your LLC to a Series LLC, typically by filing an amendment to your existing LLC documents. This process allows you to maintain a single LLC while benefiting from the series structure. Ensure that your state permits this conversion, as laws vary widely. Using platforms like US Legal Forms simplifies this procedure by providing the necessary forms and guidance.

Yes, an LLC can establish a series, which allows for separate assets and liabilities for each series within the LLC. This structure benefits business owners by providing a flexible framework for managing different business units without forming multiple entities. Understanding the implications of this structure is essential. Resources such as US Legal Forms can guide you through the formation process effectively.

Yes, you can change your LLC to a Series LLC, but it involves specific procedures. Usually, this process requires you to amend your operating agreement and might require additional filings with your state. It’s important to ensure that you’re compliant with both state and federal regulations. Consulting resources like US Legal Forms can provide clarity on the steps needed for this transition.

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Owner's Sworn Statement Concerning Direct Contracts Form - Construction - Mechanic Liens - Corporation or LLC

Owner's Sworn Statement Concerning Direct Contracts Form
FL-03224

Note: This summary is not intended to be an all inclusive summary.

Demand for copy of contract and statements of account; form.--

(1) A copy of the contract of a lienor or owner and a statement of the amount due or to become due if fixed or ascertainable thereon must be furnished by any party thereto, upon written demand of an owner or a lienor contracting with or employed by the other party to such contract. If the owner or lienor refuses or neglects to furnish such copy of the contract or such statement, or willfully and falsely states the amount due or to become due if fixed or ascertainable under such contract, any person who suffers any detriment thereby has a cause of action against the person refusing or neglecting to furnish the same or willfully and falsely stating the amount due or to become due for his or her damages sustained thereby. The information contained in such copy or statement furnished pursuant to such written demand is binding upon the owner or lienor furnishing it unless actual notice of any modification is given to the person demanding the copy or statement before such person acts in good faith in reliance on it. The person demanding such documents must pay for the reproduction thereof; and, if such person fails or refuses to do so, he or she is entitled only to inspect such documents at reasonable times and places.

(2) The owner may serve in writing a demand of any lienor for a written statement under oath of his or her account showing the nature of the labor or services performed and to be performed, if any, the materials furnished, the materials to be furnished, if known, the amount paid on account to date, the amount due, and the amount to become due, if known, as of the date of the statement by the lienor. Any such demand to a lienor must be served on the lienor at the address and to the attention of any person who is designated to receive the demand in the notice to owner served by such lienor. The failure or refusal to furnish the statement does not deprive the lienor of his or her lien if the demand is not served at the address of the lienor or directed to the attention of the person designated to receive the demand in the notice to owner. The failure or refusal to furnish the statement within 30 days after the demand, or the furnishing of a false or fraudulent statement, deprives the person so failing or refusing to furnish such statement of his or her lien. If the owner serves more than one demand for statement of account on a lienor and none of the information regarding the account has changed since the lienor's last response to a demand, the failure or refusal to furnish such statement does not deprive the lienor of his or her lien. The negligent inclusion or omission of any information deprives the person of his or her lien to the extent the owner can demonstrate prejudice from such act or omission by the lienor. The failure to furnish a response to a demand for statement of account does not affect the validity of any claim of lien being enforced through a foreclosure case filed prior to the date the demand for statement is received by the lienor.

(3) A request for sworn statement of account must be in substantially the following form: See form FL-03223.

(4) When a contractor has furnished a payment bond pursuant to s. 713.23, he or she may, when an owner makes any payment to the contractor or directly to a lienor, serve a written demand on any other lienor for a written statement under oath of his or her account showing the nature of the labor or services performed and to be performed, if any, the materials furnished, the materials to be furnished, if known, the amount paid on account to date, the amount due, and the amount to become due, if known, as of the date of the statement by the lienor. Any such demand to a lienor must be served on the lienor at the address and to the attention of any person who is designated to receive the demand in the notice to contractor served by such lienor. The failure or refusal to furnish the statement does not deprive the lienor of his or her rights under the bond if the demand is not served at the address of the lienor or directed to the attention of the person designated to receive the demand in the notice to contractor. The failure to furnish the statement within 30 days after the demand, or the furnishing of a false or fraudulent statement, deprives the person who fails to furnish the statement, or who furnishes the false or fraudulent statement, of his or her rights under the bond. If the contractor serves more than one demand for statement of account on a lienor and none of the information regarding the account has changed since the lienor's last response to a demand, the failure or refusal to furnish such statement does not deprive the lienor of his or her rights under the bond. The negligent inclusion or omission of any information deprives the person of his or her rights under the bond to the extent the contractor can demonstrate prejudice from such act or omission by the lienor. The failure to furnish a response to a demand for statement of account does not affect the validity of any claim on the bond being enforced in a lawsuit filed prior to the date the demand for statement of account is received by the lienor.

(5) Any lienor who has filed a claim of lien may make written demand on the owner for a written statement under oath showing the amount of all direct contracts; the amount paid by or on behalf of the owner for all labor, services, and materials furnished pursuant to the direct contracts; the dates and amounts paid or to be paid by or on behalf of the owner for all improvements described in any direct contracts; and the reasonable estimated costs of completing, according to the terms and specifications of same, any direct contract under which construction has ceased. If known, the actual cost of completion must be provided. Any owner who does not provide the statement within 30 days after demand, or who provides a false or fraudulent statement, is not a prevailing party for purposes of an award of attorney's fees under s. 713.29. The written demand must include the following warning in conspicuous type in substantially the following form:
WARNING: YOUR FAILURE TO FURNISH THE REQUESTED STATEMENT WITHIN 30 DAYS OR THE FURNISHING OF A FALSE STATEMENT WILL RESULT IN THE LOSS OF YOUR RIGHT TO RECOVER ATTORNEY FEES IN ANY ACTION TO ENFORCE THE CLAIM OF LIEN OF THE PERSON REQUESTING THIS STATEMENT.

(6) For purposes of this section, the term "information" means the nature and quantity of the labor, services, and materials furnished or to be furnished by a lienor and the amount paid, the amount due, and the amount to become due on the lienor's account. The failure to furnish the statement under oath does not constitute an omission of information and shall deprive the lienor of his or her lien. 713.16

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