Q: I read about "Series LLC"which allows one to set up one or more series of assets w/i a single LLC. Is this aval in Hi?
In an Series LLC, the business and assets of each series can be managed and operated separately (can have separate owners/mgrs, separate operating agreement that specifies a separate division of profits and losses, even separation of legal liability between each series w/i an LLC. Apparently a consolidation of assets in one LLC coupled w/separation of liability between assets in each series is an advantage to organizers who want to develop,encumber, and sell (for example) multiple parcels of real estate.
A: Hawaii law does not currently provide for series LLCs. If you wanted to use Hawaii LLCs, you would have to form multiple LLCs, which you could then stack under a holding company if you wanted. Alternatively, you could always just form your LLCs in a jurisdiction that allows series LLCs, e.g., Delaware, which may be more efficient depending on how many series or separate LLCs you anticipate needing.
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