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Step 5: File dissolution papers. Just as business owners filed paperwork with the state to form their LLC, they must file articles of dissolution or a similar document to dissolve the LLC. This ...
A shotgun clause (or Texas Shootout Clause [1]) is a term of art, rather than a legal term. It is a specific type of exit provision that may be included in a shareholders' agreement, and may often be referred to as a buy-sell agreement. The shotgun clause allows a shareholder to offer a specific price per share for the other shareholder(s ...
合同会社 (gōdō gaisha or gōdō kaisha, "G.K.") – lit. "amalgamated company", a close corporation form similar to the American LLC, introduced in 2006 有限会社 (yūgen gaisha or yūgen kaisha, "Y.K.") – lit. "limited company", a close corporation form for smaller businesses, abolished in 2006 and replaced by G.K. above
Corporate divisions or spin-offs are allowed in many jurisdictions, but the Texas divisive merger is distinctive because it treats the division as a merger. [1] Notably, in a Texas two-step bankruptcy the parent company still maintains control over the spin-off by appointing its board and executives.
One possible solution may be to form a new corporation and merge into it, dissolving the LLC and converting into a corporation. Many jurisdictions—including Alabama , California , Kentucky , Maryland , New York , Pennsylvania , Tennessee , and Texas —levy a franchise tax or capital values tax on LLCs.
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In law, dissolution is any of several legal events that terminate a legal entity or agreement such as a marriage, adoption, corporation, or union.. Dissolution is the last stage of liquidation, the process by which a company (or part of a company) is brought to an end, and the assets and property of the company are gone forever.