Does Illinois Allow Series LLCs?

Yes. Illinois permits series LLCs under 805 ILCS 180/37-40. A series LLC is a single LLC that establishes multiple protected series, each with separate assets, liabilities, and members. Each series operates independently while sharing the parent LLC's Articles of Organization, making this structure cost-effective for managing multiple business lines or investments.

Formation Requirements

To establish a series LLC in Illinois, file Articles of Organization with the Secretary of State under 805 ILCS 180/5-5 and 180/5-40. Your articles must include the LLC name with an approved designator, principal place of business, registered agent and office address, purpose, and names and addresses of initial managers or member-managers.

One or more organizers (individuals age 18+ or business entities) may form the LLC. Foreign owners are permitted.

Costs and Processing

The standard filing fee for an Illinois series LLC is $150. Expedited processing adds $100 for 24-hour service. Standard processing takes approximately 10 business days for online filings. You may choose a delayed effective date if needed.

How Series Structure Works

Each series within the parent LLC maintains separate records and can hold distinct assets and liabilities. This isolation protects one series' creditors from claiming assets of another series. However, the parent LLC and all series file under a single Articles of Organization—you don't file separate formation documents for each series.

Each series can have different members and managers, providing flexibility in ownership structure across your various business operations.

Key Advantages

Series LLCs reduce formation and administrative costs compared to creating multiple standalone LLCs. You avoid filing multiple Articles of Organization and manage related business ventures under one tax identification number while maintaining liability protection between series.

Important Considerations

Illinois does not recognize anonymous LLCs—your registered agent, registered office, and manager/member information remain public record. Additionally, while series LLCs are statutorily permitted under 805 ILCS 180/37-40, creditor recognition of series liability protection varies by jurisdiction, particularly in litigation outside Illinois.

Maintain separate accounting and member records for each series to preserve liability protection. Courts may disregard the series structure if proper formalities are not observed.

Next Steps: Consult a business attorney to draft an operating agreement establishing your series structure and ensuring compliance with Illinois law.

This is general information, not legal advice.