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CS/SB 316 — Limited Liability Companies
by Rules Committee and Senator Berman
This summary is provided for information only and does not represent the opinion of any Senator, Senate Officer, or Senate Office.
Prepared by: Commerce and Tourism Committee (CM)
The bill amends the Florida Revised Limited Liability Company Act in ch. 605, F.S., to provide for the creation and regulation of protected series limited liability companies (LLC) under Florida law. Currently, Florida law does not allow for the creation of a protected series LLC within a series LLC formed in this state. A series LLC consists of an overarching, “umbrella” LLC under which one or more protected series LLCs are created; each protected series LLC has its own assets and liabilities and is treated as if it were a separate LLC. The bill specifies definitions, operations and governance, powers and duties, liability limitations, and requirements related to service and notice, reporting, management, merger, and dissolution.
If approved by the Governor, or allowed to become law without the Governor’s signature, these provisions take effect July 1, 2026.
Vote: Senate 35-1; House 115-0