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A series of a Texas Series LLC is not actually a business entity separate from the parent organization, but it behaves a lot like a separate business entity. This is a Form of Limited Liability Company Agreement for a Delaware Series LLC.Do you need an operating agreement when you form a limited liability company (LLC)? One analogy for the Series LLC is: The Operating Agreement if the LLC is the house. The "house" has many rooms. The tax implications of the arrangement being memorialized in the operating agreement. That said, this checklist is not intended to provide a comprehensive. A Series LLC consists of the "parent" or "umbrella" LLC with one or more series that are established under the parent. 17-76,143. Series limited liability company. An LLC Operating Agreement defines how your company is to be run.
