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The dissolution of New York LLCs is governed by Article 7 of the New York Limited Liability Company Law (LLCL). Section 702 thereof provides that, as one ground, judicial dissolution may be ...
Many jurisdictions—including Alabama, California, Kentucky, Maryland, New York, Pennsylvania, Tennessee, and Texas—levy a franchise tax or capital values tax on LLCs. In essence, this franchise or business privilege tax is the fee the LLC pays the state for the benefit of limited liability.
On March 4, 2009, ICE announced that ICE US Trust, LLC (ICE Trust), a New York limited liability trust company, received regulatory approval from the Board of Governors of the Federal Reserve System [3] to become a member of the Federal Reserve System and to serve as a clearing house and central counterparty for credit default swap (CDS ...
Limited liability is a legal status in which a person's financial liability is limited to a fixed sum, most commonly the value of a person's investment in a corporation, company, or joint venture. If a company that provides limited liability to its investors is sued, then the claimants are generally entitled to collect only against the assets ...
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.
New York Central Lines LLC was a limited liability company that owned railroad lines in the United States that are owned and operated by CSX Transportation.The company was formed in 1998 to own Conrail lines assigned to CSX in the split of Conrail between CSX and the Norfolk Southern Railway; operations were switched over on June 1, 1999.
An operating agreement is a key document used by limited liability companies (LLCs) to outline the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners, called "members".
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