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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.
The owners of the LLC, called members, are protected from some or all liability for acts and debts of the LLC, depending on state shield laws. In the United States, an S corporation is limited to 100 shareholders, [b] and all of them must be U.S. tax residents. [c] An LLC may have an unlimited number of members, and there is no citizenship ...
The secretary of state of Illinois is one of the six elected executive state offices of the government of Illinois, and one of the 47 secretaries of state in the United States. The Illinois secretary of state keeps the state records, laws, library, and archives, and is the state's corporation registration, vehicle registration and driver ...
7. Don’t overlook your own estate planning. Dealing with the aftermath of losing your spouse requires a lot of attention and time. But what not to do financially after losing a spouse is ...
When someone dies, all of their financial and non-financial assets are referred to as their “estate.” An estate can include bank accounts, property, investments, businesses, furniture ...
If a beneficiary to a will dies before they can inherit, the results can range widely. The assets might travel to the beneficiary’s heirs in a chain of inheritance, they might proceed to the ...
A limited liability partnership (LLP) is a partnership in which some or all partners (depending on the jurisdiction) have limited liabilities. It therefore can exhibit aspects of both partnerships and corporations. In an LLP, each partner is not responsible or liable for another partner's misconduct or negligence.
The process for transferring vehicle ownership after someone passes away can vary from state to state. It may be a good idea to consult probate rules and the local DMV to determine what’s needed ...