Ads
related to: unlimited liability company examples
Search results
Results from the WOW.Com Content Network
An unlimited company or private unlimited company is a hybrid company (corporation) incorporated with or without a share capital (and similar to its limited company counterpart) but where the legal liability of the members or shareholders is not limited: that is, its members or shareholders have a joint and several non-limited obligation to meet any insufficiency in the assets of the company ...
An unlimited liability corporation (ULC) within Canadian corporate law is a Canadian corporation designation, wherein shareholders are liable up to unlimited amounts for any liability, act or default of the corporation. By comparison, in most corporations, shareholders are not usually liable due to a limited liability model.
Unlimited Company – No limit on liability of members. Creditors may have recourse to shareholders for unpaid liabilities of the company. Must have at least two shareholders. Undertakings for Collective Investment in Transferable Securities (UCITS) – Public limited companies formed under EU Regulation and the Companies Acts 1963–2006.
Company Law. 19: 211. Freedman, C.E. (1979). Joint-Stock Enterprise in France 1807–1867: From Privileged Company to Modern Corporation. Chapel Hill, NC: University of North Carolina Press. Grossman, P.Z. (1995). "The market for shares of companies with unlimited liability: the case of American Express". Journal of Legal Studies. 24: 63.
The best-known example, established in 1600, was the East India Company of London. ... Unlimited company; Unlimited liability corporation; Notes. References
Private companies may be called corporations, limited companies, limited liability companies, unlimited companies, or other names, depending on where and how they are organized and structured. In the United States but not generally in the United Kingdom , the term is also extended to partnerships , sole proprietorships or business trusts .
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]
A private company limited by shares, or an unlimited company with a share capital, may re-register as a public limited company (PLC). A private company must pass a special resolution that it be so re-registered and deliver a copy of the resolution together with an application form 43(3)(e) to the Registrar.
Ads
related to: unlimited liability company examples