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Senate committee approves bill to allow ‘‘protected series'" LLCs in Arkansas
Summary
The Senate Insurance & Commerce Committee passed House Bill 16-11 to adopt a uniform act authorizing "protected series" within a master limited liability company, sponsors said it simplifies ownership for franchisees and rental-property investors and provides series-level liability protection.
The Arkansas Senate Insurance & Commerce Committee on Thursday approved House Bill 16-11, a measure to authorize "protected series" within a master limited liability company, allowing a single umbrella LLC to contain separately protected series for individual assets or business units.
Representative James Maddox, the bill sponsor, told the committee the structure "allows 1 master LLC" so owners do not need to form dozens of separate entities for each location or property.…
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