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  2. Limited liability company - Wikipedia

    en.wikipedia.org/wiki/Limited_liability_company

    The owners of the LLC, called members, are protected from some or all liability for acts and debts of the LLC, depending on state shield laws. In the United States, an S corporation is limited to 100 shareholders, [b] and all of them must be U.S. tax residents. [c] An LLC may have an unlimited number of members, and there is no citizenship ...

  3. Low-profit limited liability company - Wikipedia

    en.wikipedia.org/wiki/Low-profit_limited...

    L3C's have the option to be member-managed or manager-managed. [1] This distinction should be made within the operating agreement of the business. The default is member-managed which means that the members of the L3C are responsible for delegating and performing the day-to-day operational functioning of the business along with determining ...

  4. Operating agreement - Wikipedia

    en.wikipedia.org/wiki/Operating_agreement

    An operating agreement is similar in function to corporate by-laws, or analogous to a partnership agreement in multi-member LLCs. In single-member LLC, an operating agreement is a declaration of the structure that the member has chosen for the company and sometimes used to prove in court that the LLC structure is separate from that of the ...

  5. LLC vs. Corporation - AOL

    www.aol.com/finance/llc-vs-corporation-203712316...

    LLC. Corporation. Ownership. Can be owned by one or multiple members. Owned by shareholders. Paperwork. Annual business filings can be handled by the business owner or manager

  6. Series LLC - Wikipedia

    en.wikipedia.org/wiki/Series_LLC

    A series limited liability company, commonly known as a series LLC, protected cell company, segregated account company, or segregated portfolio company, and sometimes abbreviated as SLLC, is a form of a limited liability company that provides liability protection across multiple "series" each of which is theoretically protected from liabilities arising from the other series.

  7. Unlimited liability corporation - Wikipedia

    en.wikipedia.org/wiki/Unlimited_liability...

    Directors can manage “or supervise the management” of the business and affairs of the corporation (with authority to delegate that power to shareholders through a USA corporation or LLC) Directors must manage or supervise the management of the business and affairs of the company

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