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Hi thanks for asking for me.
Let me clarify. Let's assume that each ownership group of each of the five existing LLC's is to get 20% of the new LLC and the new LLC will be parent of each of the five existing LLCs. Let's also assume that all of the existing LLCs except one is owned by two members each owning 50% of the LLC and one LLC has three members each owning 1/3 of the membership interests. If each member of each of the four existing LLC's with two members exchanges their current membership interest in the existing LLC with the new LLC for their same percentage ownership in the new LLC it would work as follows. Since each existing LLC is to get 20% of the new LLC, each of the members of the 4 LLCs with two members would get a 10% membership interest in the the new LLC. The owners of the four existing LLCs would then own 80% of the membership interests in the new LLC. The last ownership group in the last LLC would get the remaining 20%. However, since their are three members, they would each receive 6 2/3% interest in the new LLC.
Once the exchange was completed, each of the five existing LLC would be wholly owned by the new LLC and members of the five existing LLCs will now only own membership interests in the new LLC. The new LLC could be organized in any state you choose. You do not any resolutions in any of the LLCs. Everything is accomplished by the exchange of membership interests.
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