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The Uniform Limited Liability Company Act (ULLCA), which includes a 2006 revision called the Revised Uniform Limited Liability Company Act, 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 limited liability companies (often called LLCs) by U.S. states.
Corporate dissolution, also known as corporate wind-down, refers to the formal process of closing a business entity. Dissolving a company may take several months, involve legal assistance, incur significant costs, and be emotionally taxing.
Eric Schmitt, who was involved with the law both as a Missouri State Senator and as Missouri Attorney General. In 2009, Missouri State Senate member John Griesheimer proposed an amendment to the bill that would reduce the cap to 35%. [1] This reduction was approved, and in 2013 was lowered again to 30%. [4]
A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation . [ 1 ]
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.
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This page was last edited on 23 December 2023, at 22:58 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
A successor company takes the business (products and services) of a previous company or companies, with the goal to maintain the continuity of the business. To this end, the employees, board of directors, location, equipment, and even product name may remain the substantially the same at the moment of succession.