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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 ...
While L3Cs are a separate legal form of business entity, L3Cs structure most closely emulates that of a limited liability company (LLC). [18] The most notable difference between L3Cs and LLCs is that L3Cs are required to have a socially beneficial mission as their primary objective. [2] Below are several noteworthy characteristics of L3Cs:
For example, in Delaware LLLP elections take the form of a limited partnership electing to be a limited liability partnership (this is the format used in Delaware, while in Florida, Hawaii and Kentucky the election is made in the certificate of a limited partnership). Not all states presently allow business entities to form as LLLPs. [2]
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
SAS (Société par actions simplifiée): ≈ limited liability company (US, especially in Delaware), unlisted public company (Au), close corporation (CC) (S. Africa), private corporation (Can); often used for subsidiaries; minimum of one director and two members/shareholders; no limit on share capital; liability can be restricted to director ...
The Illinois secretary of state keeps the state records, laws, library, and archives, and is the state's corporation registration, vehicle registration and driver licensing authority. The current secretary of state is Alexi Giannoulias, a Democrat who took office in 2023.
Model Business Corporation Act Annotated, Model Business Corporation Act with Official Comment and Reporter's Annotations (Fifth Edition, 2020). Kocaoglu, Kagan (March 2008). "A Comparative Bibliography: Regulatory Competition on Corporate Law". (Georgetown University Law Center Working Paper). SSRN 1103644
In Brazil there are many different types of legal entities (sociedades), but the two most common ones commercially speaking are (i) sociedade limitada, identified by "Ltda." or "Limitada" after the company's name, equivalent to the British limited liability company, and (ii) sociedade anônima or companhia, identified by "SA" or "Companhia" in ...
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