The Man Who Tells You He Understands Series Will Lie to You About Other Things as Well

Abstract

My good friend Scott Ludwig, a font of southern aphorisms, is known to have observed “A man who tells you he is in charge of his household will lie to you about other things as well.” While it is beyond my skill set to assess the universality of this obvious generalization, I am confident that anyone representing that they truly understand the “series” as utilized in certain LLC, limited partnership and business/statutory trust acts is at a minimum overestimating their capabilities. Simply put, consequent to the disparate elements of series between the various acts and the many unresolved questions, understanding is simply at this time not possible.