Does Michigan allow Series LLC?

In Michigan, you could file fifteen separate LLC articles for the same amount of money. The entrepreneur will have to do the math, but in some cases it could be cheaper to form multiple regular LLCs, even before discounting for the risky nature of series LLCs.

How do I know if my LLC is approved in Michigan?

First, call the Corporation Division, Bureau of Commercial Services of the Department of Licensing and Regulatory Affairs (LARA) at 517-241-6470 to confirm that another Michigan corporation, limited partnership, or limited liability company does not have the same business name you have chosen.

What is the difference between an LLC and a series LLC?

A series LLC is a regular business LLC that is set up to hold several properties or interests underneath one LLC. A series LLC can make distributions as allowed by state law. A restricted LLC, on the other hand, is a vehicle created to transfer assets within a family and is not meant for doing business.

How to search for an entity in Michigan?

Visit the Department of Licensing and Regulatory Affairs website to begin a search (it will look like the screenshot below). Step 2. Type in the entity name in the “Search by entity name” field. For this example, we will type “ Ford ” in the field (see the screenshot below for reference). Step 3.

How to form a business LLC in Michigan?

Choosing a company name is the first and most important step in forming an LLC in Michigan. Be sure to choose a business name that complies with Michigan naming laws and requirements and is easily searchable by potential business clients. 1. Follow the naming guidelines for a Michigan LLC:

How to become a foreign limited liability company in Michigan?

Foreign limited liability companies that are “transacting business” in Michigan must first obtain a Certificate of Authority from this agency. The term “transacting business” is a technical term.

Do you need an operating agreement for a LLC in Michigan?

An operating agreement is not required for an LLC in Michigan, but it’s a good practice to have one. What is an operating agreement? An operating agreement is a legal document outlining the ownership and operating procedures of an LLC. Why are operating agreements important?

How to create a limited liability company in Michigan?

Create a corporation or limited liability company? First, call the Corporation Division, Bureau of Commercial Services of the Department of Licensing and Regulatory Affairs (LARA) at 517-241-6470 to confirm that another Michigan corporation, limited partnership, or limited liability company does not have the same business name you have chosen.

What makes a foreign limited liability company in Michigan?

A foreign limited liability company is one that is formed under the laws of another jurisdiction. Foreign limited liability companies that are “transacting business” in Michigan must first obtain a Certificate of Authority from this agency. The term “transacting business” is a technical term.

How to choose a business name in Michigan?

The availability of a name for a limited partnership, a limited liability company, or a corporation may be checked by visiting the website, contacting the Business Services Section of the Corporations Division by mail, fax, telephone or in person at our office.

Where can I get a corporate license in Michigan?

Contact the Department of Licensing and Regulatory Affairs, Corporations, Securities, and Commercial Licensing Bureau at 517-241-6470 for filing information or visit our website at www.michigan.gov/corporations.