A series LLC is form of LLC that allows a group of LLCs to be owned in a tiered structure. The top-tier LLC, or “parent LLC”, controls the “child series" or “sub-LLCs” below it. Owners of a series LLC can create an unlimited number of sub-LLCs.
This form of LLC was created in Delaware in 1996 and has been adopted in several other states. Some states, such as California, do not allow the creation of series LLCs but will authorize series LLCs created in other states to do business there.