The Wyoming Series LLC is a sophisticated business structure that allows a single LLC to create multiple, distinct "series"—each with its own assets, members, and liabilities. This structure is authorized by Wyoming Statute § 17-15-133, which was enacted in 2003, making Wyoming one of the pioneers in offering this powerful formation option. Unlike traditional LLCs where all assets and liabilities are pooled under one entity, a Series LLC allows for the segregation of assets and liabilities between different series. This means that the debts or legal judgments against one series generally do not affect the assets of another series or the master LLC. This offers a significant advantage for businesses with multiple distinct ventures or properties that require separate liability shields. The core concept behind the Wyoming Series LLC statute is its ability to create a "series" within a master LLC. Each series can operate independently, hold its own assets, enter into contracts, and be subject to its own liabilities. Crucially, the statute mandates that the liabilities of one series are generally not enforceable against the assets of another series or the master LLC, provided that certain conditions are met. These conditions typically involve maintaining separate records, bank accounts, and adhering to operational formalities for each series. Failure to maintain these distinctions can lead to a "piercing of the veil" between series, rendering the liability protection ineffective. This makes understanding the specific requirements of the Wyoming statute paramount for any business considering this structure.
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