Tag: Texas LLC

If you are a member of a Texas limited liability company (LLC), it is important to understand that LLCs provide a level of liability protection to their members. This means that, in most cases, a member of an LLC cannot be held personally liable for the debts and obligations of the LLC. This principle was demonstrated in the case of Ingalls v. Standard Gypsum, Ingalls v. 70 S.W.3d 252 (Tex. App. 2001). Facts & Procedural History In this case, Ingalls, a construction company, sued Standard Gypsum, a manufacturer of gypsum wallboard, for injuries sustained by an Ingalls employee on a…

Many people may be wondering what a registered series limited liability company (LLC) is and when it would be used, as Texas law does not currently require registration of a series LLC. A registered series is a type of series within a Texas series LLC that is created by filing a certificate of formation with the Texas Secretary of State and specifying the creation of one or more series within the LLC. Series LLCs that do not “register” like this are now referred to as “protected series.” Some businesses may find that a registered series offers certain advantages, such as…