I struggle with question myself, as I've tended in the past to see the database schema as the primary definition of business rules, and that all other business rules "hang off the data model" in the words of a friend of mine. So according to that perspective I'd have said that SQL views are the correct way to implement this.
But my views on this have changed in the past few years, and I'd now lean towards using something constructed in LLBLGen. Why? Partly because I'm fed up with the politics that govern how the database changes, and partly because I just like the separation of having business logic that isn't purely structural assertions in a separate layer.
Don't forget too that in the next version of llblgen pro (2.1) there will also be an additional tool to add to the toolbox - composite entities.