Florida's New Protected Series LLC Law: Part I
Corporate attorney Louis T.M. Conti authored an article for The Florida Bar Journal giving readers an overview of Florida's new protected series LLC legislation. Mr. Conti explains what a protected series LLC is and what distinguishes it from a limited liability company (LLC) that is not a protected series company, as well as describes the history of the concept of a "protected series" and why the Sunshine State added it to its list of business entities. He then details the criteria for a Florida protected series LLC under the new law, including its formation and operational requirements, along with dissolution and windups, restrictions on transactions such as mergers and domestications, and special rules that apply when associating real property with a protected series LLC.