@Jason R. @Kumar Paj @Bill Gulley @Scott Smith @Amanda Han update
Make sure to check with your accountant and bank before deciding, this is not just a legal question. Many banks will not establish accounts of any kind with a series llc (Chase Bank). My Banker has advised me that older accounts/loans will be canceled at time of renewal. Some accountants will not want the hassle that comes from a much more detailed chart of accounts necessary to keep a strong corporate veil and /or will charge a lot more making any savings from a series mute. Although the series LLC structure has been available since 1996, and has expanded to 9 other states/province; it is still relatively uncommon. Many, if not most, are still unfamiliar with the concept. This can cause difficulties and delays in securing financing from lenders that don't understand the issues involved, as well as problems obtaining licenses and permits from governmental entities that are unused to dealing with the series LLC structure. Gaps in insurance coverage can also occur due to confusion regarding the proper insured parties, and transaction costs may also be higher if involved parties do not have experience with the series LLC structure.
