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Corporations exist in part to shield the personal assets of shareholders from personal liability for the debts or actions of a corporation. Unlike a general partnership or sole proprietorship in which the owner could be held responsible for all the debts of the company, a corporation traditionally limited the personal liability of the shareholders.
The limited liability limited partnership (LLLP) is a relatively new modification of the limited partnership. The LLLP form of business entity is recognized under United States commercial law . An LLLP is a limited partnership , and it consists of one or more general partners who are liable for the obligations of the entity, as well as or more ...
The Uniform Partnership Act (UPA), which includes revisions that are sometimes called the Revised Uniform Partnership Act (RUPA), is a uniform act (similar to a model statute), proposed by the National Conference of Commissioners on Uniform State Laws ("NCCUSL") for the governance of business partnerships by U.S. States. Several versions of UPA ...
There has been discussion over whether limited partnerships operating under English law should be made separate legal entities as under Scots law, and in the same way as limited liability partnerships are. The Law Commission report on partnership law LC283 suggested that creation of separate legal personality should be left as an option for the ...
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Indiana Gov. Mitch Daniels, center, makes comments before leaving the Statehouse to deliver R.V. One, the recreational vehicle he crisscrossed the state in during his successful 2004 and 2008 ...
[citation needed] The first General Assembly of the Indiana Territory met on July 29, 1805, and shortly after the Revised Statutes of 1807 was the official body of law. [ citation needed ] Indiana's constitution, adopted in 1816, specified that all laws in effect for the Territory would be considered laws of the state, until they expired or ...
If Democrats pick up four seats in the House, we can break the 12-year reign of the Republican supermajority in Indiana, Mike Schmuhl writes. How Indiana Democrats are working to end one-party ...