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The first state to enact a law authorizing the creation of limited liability companies was Wyoming in 1977. [13] The law was a project of the Hamilton Brothers Oil Company, which sought to organize its business in the United States with liability and tax advantages similar to those it had obtained in Panama. [14]
These include corporations, cooperatives, partnerships, sole traders, limited liability companies and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province. Some of these types are listed below, by country.
Georgia-Pacific (Georgia-Pacific LLC, aka: "GP") is one of America's largest forest products companies, specializing in pulp and paper and building materials (largely made from GP's own timber), based in Atlanta, Georgia.
Limited liability companies, or LLCs, are no stranger to controversy, mainly because of how easily they can be used to hide owners and assets. Now they are being targeted by a New York watchdog ...
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[16] [17] [18] The 1855 Act allowed limited liability to companies of more than 25 members (shareholders). Insurance companies were excluded from the act, though it was standard practice for insurance contracts to exclude action against individual members. Limited liability for insurance companies was allowed by the Companies Act 1862.
The timing and amounts of distributions is the sole and exclusive prerogative of the GP. That is, a distribution cannot be made to one partner (GP or LP) unless all partners receive their pro rata portion of any disbursements. An FLP can also be formed as a family limited liability company (FLLC), which offers legal advantages over an LP. While ...
Georgia-Pacific LLC is an American pulp and paper company based in Atlanta, Georgia, [2] and is one of the world's largest manufacturers and distributors of tissue, pulp, paper, toilet and paper towel dispensers, packaging, building products and related chemicals, and other forest products—largely made from its own timber.