Need advice on how to structure this business

[Griz]

I own multiple insurance agencies here in Illinois. Currently, each one is set up as their own LLC where I'm either full owner or majority owner. What I'm wanting to do is set up a single master LLC that controls all of the insurance carrier contracts, E&O Insurance etc and then have "sub" LLC's underneath the master LLC. So, it would look like this:

(Master Agency)
I
I
--------------------------------------------
I I I I
(1) (2) (3) (4)

Where I would own 100% of the Master LLC then I would own 51% of #1, #2, #3 and 25% of #4.

#1 would be 49% owned by Jane Doe
#2 would be 49% owned by John Doe
#3 would be 49% owned by Sue Doe
#4 would be 50% owned by Rick Doe, 25% by Jenny Doe and 25% by me.

I'm in Illinois and I believe that there is something called a series LLC? Any direction you can give me is greatly appreciated. Thanks!

 

[Griz]

My diagram did not quite translate well. It was suppose to show the master agency flowing down into 4 separate agencies numbered 1 through 4.

 

[Samir]

       (Master Agency)
                   I
                   I
--------------------------------------------
I           I               I             I
(1)      (2)           (3)         (4)

This should look a little better.

Very interesting that you can do this in IL. I'm looking forward to reading what information people here know about this.