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	California Business Portal - Limited Liability Companies
		General provisions governing limited liability companies are found in California Corporations Code Section 17000 et seq.
		Limited liability companies are a relatively new form of business entity for the state.
		The majority of limited liability company filings utilize forms prescribed by the Secretary of State, which were developed to simplify filing procedures.
	www.ss.ca.gov /business/llc/llc.htm (99 words)

	Limited Liability Partnerships (Site not responding. Last check: 2007-10-09)
		Unlike a general partnership, where the partners are liable for debts and liabilities arising from the negligent acts of all partners, the partners in a limited liability partnership are not personally liable for the negligent acts of another partner or an employee who is directly supervised by another partner.
		The partnership continues to be liable for the negligence of its partners, associates and employees, and accordingly there is no reduction or limitation on the liability of the partnership.
		The limitation on liability is the only change to the partnership resulting from the legislative amendments and this change will not affect our firm's relationship with you as a client.
	www.lsuc.on.ca /services/services_liability_en.jsp (947 words)

	Limited Liability Companies
		The LLC may be likened to a general partnership with limited liability, or to a limited partnership where all the owners are free to participate in management and all have limited liability, or to an S corporation without the ownership and tax restrictions imposed by the Internal Revenue Code.
		The name of a limited liability company may not be the same as, or deceptively similar to, the name of an existing limited liability company, corporation, limited partnership, or a name that has been reserved or registered for a limited liability company, corporation or limited partnership.
		If the limited liability company revokes the voluntary dissolution after the issuance of a certificate of dissolution by the secretary of state, articles of revocation of dissolution must be filed with the secretary of state no later than 120 days from the issuance of the certificate of dissolution.
	www.sos.state.tx.us /corp/forms/filingguide/html/llc.htm (7116 words)

	TITLE 17: CHAPTER 15 - LIMITED LIABILITY COMPANIES (Site not responding. Last check: 2007-10-09)
		Neither the members of a limited liability company nor the managers of a limited liability company managed by a manager or managers are liable under a judgment, decree or order of a court, or in any other manner, for a debt, obligation or liability of the limited liability company.
		If the articles of organization provide for the management of the limited liability company by a manager or managers, unless the operating agreement expressly dispenses with or substitutes for the requirement of annual elections, the manager or managers shall be elected annually by the members in a manner provided in the operating agreement.
		A member of a limited liability company is not a proper party to proceedings by or against a limited liability company, except where the object is to enforce a member's right against or liability to the limited liability company.
	legisweb.state.wy.us /statutes/titles/title17/chapter15.htm (4350 words)

	Limited Liability Companies: A Summary - from The 'Lectric Law Library
		Thus, if a corporation were the preferred form of doing business, one could get limited liability and one level of tax if one qualified as an S corporation, or the shareholders must accept the cost of paying tax at the corporate level.
		Thus, in the right circumstances, there is no longer a need to use a corporation or a limited partnership with a corporate general partner to provide complete liability protection and there is no need to live with the statutory limitations of the S corporation in order to get federal income tax advantages.
		LLC Certificate and Operating Agreement The limited liability company, a creature of state law, is one created by the filing of a document similar to articles of incorporation with a state authority.
	www.lectlaw.com /files/buo01.htm (2160 words)

	limited liability companies
		Because the shareholders of a company limited by shares are distinct ‘legal persons’ quite separate from the limited company itself, the DIRECT liability of such shareholders to outsiders with whom the company has dealt (and with whom the shareholders have not directly dealt) is nil.
		However, such shareholders may INDIRECTLY be liable (that is, via their potential liability to the limited company) up to a point (or ‘limit’), namely, the amount which they have agreed to pay the limited company for their shares and which remains unpaid.
		Mr Smith forms a UK limited company (limited by shares that is), with himself as the sole shareholder and sole director of the limited company (and with his wife, Mrs Smith, as the limited company’s sole company secretary).
	www.ukcorporator.co.uk /limited_companies.php (1152 words)

	LIMITED LIABILITY COMPANY (Site not responding. Last check: 2007-10-09)
		The Limited Liability Company shall commence on the date hereof and shall continue until its winding up, liquidation, and dissolution as provided in Article IX hereof, as set forth in its Articles of Organization, whichever is earlier.
		Withdrawal of funds from Limited Liability Company accounts shall be made on the signatures of at least two of the Members, or as a majority of the Members may approve from time to time.
		The Limited Liability Company shall maintain minutes of all Limited Liability Company meetings reasonably recording all actions taken at such meetings, copies of all written consents of action taken by the Members, and copies of all proxies by which one Member acts on behalf of another Member.
	www.cesllc-group.com /files/articles.htm (5036 words)

	Limited liability
		Nevertheless, there have been some limited, though, exceptions, where the courts disregarded the principle and held member companies liable for debts incurred by other members in the group, apart from the cases where circumstances indicate that the subsidiary is a mere façade.
		These are in cases of guaranteed liabilities, judicially approved pooling arrangements under section 426 of the Companies Act 1985 and finally when it can be proved that the parent itself is a director of the subsidiary and as such can be liable for wrongful trading[57].
		The appropriate solution to this major deficiency of the limited liability principle should be addressed by the legislator, since he is undoubtfully the most appropriate authority to deal efficiently with the problem.
	www.coursework.info /i/11345.html (1289 words)

	LLPs: How Limited is Limited Liability?
		Include language preserving limited liability "with respect to negligent or wrongful acts or misconduct or other debts or obligations which occurred or arose while LLP registration was in effect." Furthermore, include a clause allowing for a grace period during which the partnership may file for renewal of LLP status without loss of the liability shield.
		All states still hold a partner liable for his or her own torts and misconduct and most retain vicarious liability for the wrongdoing of individuals under the direct supervision and control of the partner.
		By permitting limited liability for any torts or contract obligations "incurred, created or assumed" by the LLP partnership, the intent was to broaden the scope of liability protection.
	www.mobar.org /journal/1997/mayjun/llc.htm (10055 words)

	Limited Liability Company Information & Formation: The Company Corporation - The Company Corporation - INCORPORATE NOW!
		A limited liability company affords you a much greater range of flexibility in the management as well as the organization of the company.
		In addition, a limited liability company does not adhere to the same ownership restrictions that are placed on S Corporations, making them ideal business structures for foreign investors.
		Most states require that a limited liability company maintain a designated person or entity to be responsible for receiving vital legal and tax documents on behalf of the company.
	www.corporate.com /limitLiabilityComp.jsp (346 words)

	Limited Liability Partnership (LLP)
		A Limited Liability Partnership (LLP) may elect to be treated as a corporation by filing Form 8832.
		However, an Limited Liability Partnership (LLP) partner may still be jointly and severally liable for the contractual debts of the business.
		Newer state Limited Liability Partnership (LLP) laws have extended liability protection to the partnership’s contractual debts that exceed the value of the owner’s investment interest in the Limited Liability Partnership (LLP).
	www.1065accountant.com /llp.htm (535 words)

	Limited Liability Partnerships (Site not responding. Last check: 2007-10-09)
		The internal organisation of the limited liability partnership closely resembles that of a partnership.
		Members may be liable to contribute to the assets of the limited liability partnership if it is wound up.
		To this end, stamp duty will not be chargeable on an instrument by which property is conveyed or transferred to a limited liability partnership in connection with its incorporation within a year of the date of its incorporation.
	www.cslp.co.uk /lim_liab_part.htm (782 words)

	Chapter 67 — Partnerships; Limited Liability Partnerships
		(1) A partnership is liable for loss or injury caused to a person, including a partner, or for a penalty incurred as a result of a wrongful act or omission or other actionable conduct of a partner acting in the ordinary course of business of the partnership or with authority of the partnership.
		A partner is not personally liable, directly or indirectly, by way of indemnification, contribution or otherwise, for such an obligation solely by reason of being or so acting as a partner.
		This subsection applies to a partner’s liability notwithstanding anything inconsistent in the partnership agreement that existed immediately before the vote required to become a limited liability partnership under ORS 67.500 (3).
	landru.leg.state.or.us /ors/067.html (8739 words)

	Corporations FAQ (Site not responding. Last check: 2007-10-09)
		If a business owner has "limited liability," it means that he or she is not personally responsible for business debts and obligations of the corporation.
		Limited liability has traditionally been associated with corporations, and is the main reason that most people consider incorporating.
		If you merely want to limit your personal liability for business debts, forming a limited liability company (LLC) is probably smarter, because LLCs are both less expensive to form and less complex to run.
	www.nolo.com /article.cfm/objectID/B6061AF8-E1FE-43D9-B3117C83BD1CCA82/111/182/241/FAQ (1801 words)

	Limited Liability Partnerships Act 2000
		Second, every partner is jointly and severally liable for any loss or damage arising from the wrongful acts or omissions of any of his partners (as well as his own) which were done in the ordinary course of the partnership's business or with the authority of the partners.
		When the members are liable jointly and severally for any loss or damage this has the effect that an injured person may sue one or more of the members separately or all of them together at his option.
		The limit for relief claimed by members of LLPs would be the amount they have subscribed to the LLP together with any further amount that they have undertaken to contribute in the event that the LLP is wound up.
	www.opsi.gov.uk /acts/en2000/2000en12.htm (4376 words)

	Limited Liability Companies -- The Basics
		The new "limited liability companies" have, in effect, done away with the need to have unlimited liability for ANY of the owners of what is, in essence, a partnership form of business organization.
		For professionals, the LLP offers only somewhat limited protection from liability, in that a professional who is a partner in an LLP remains personally liable for his or her own malpractice or gross negligence, or such misdeeds committed by employees of the LLP who operate under that partner's direction.
		Like a regular corporation (a C corporation), an LLC provides limited liability to its owners, but taxable income or losses of the business will generally pass through to the owners (but any such losses may not always necessarily be deductible, due to the "at-risk" and "passive loss" limitations of the tax law).
	www.roninsoft.com /llc.htm (6761 words)

	Limited Liability Corporation Formation (Site not responding. Last check: 2007-10-09)
		Limited Liability Corporations help business owners protect their personal assets from business liabilities.
		Limited Liability Corporations are ideal for passive investments like real estate.
		Limited Liability Corporations are also ideal for non-US citizens who want to be taxed like a partnership.
	www.incnow.com /limited-liability-company.html (817 words)

	Corporation LLC sole proprietorship limited liability company limited liability corporation (Site not responding. Last check: 2007-10-09)
		In general: An LLC is a hybrid between a partnership and a Corporation in that it combines the "pass-through" treatment of a partnership with the limited liability accorded to corporate shareholders.
		Limited Liability: Ordinarily, only the LLC is responsible for the company's debts thus shielding the members from individual liability.
		Guarantor Liability: Where an LLC member has personally guaranteed the obligations of the LLC, he or she will be liable.
	www.mycorporation.com /llcbusiness.htm (592 words)

	Conglomerate Blog: Limited Liability
		This strategy is intended to counter the weakening of self-policing resulting from a shift in the legal form of most professional firms - from partnerships to limited liability partnerships - a change that has gone virtually unnoticed by Congress in its inquiries into the spread of tax cheating.
		Under the old form, each partner was liable for all acts by all partners, a powerful incentive to enforce compliance with the law.
		Under the new form, the liability of each partner for misconduct by other partners is limited or even eliminated, provided that the partner remains unaware of the misconduct.
	www.theconglomerate.org /limited_liability (608 words)

	LLCWEB - THE BASICS
		They have existed for many years abroad and actually, the first LLC legislation in the United States was the Limited Liability Company Act of Wyoming in 1977.
		The limited liability company is becoming the entity of choice for business in every realm and will continue to gain momentum as more and more people learn of its existence.
		The limited liability company does have the benefit of simplicity of operation and was designed with the small business owner in mind.
	www.llcweb.com /what.htm (1145 words)

	Limited Liability Company FAQ (Site not responding. Last check: 2007-10-09)
		A limited liability company, commonly called an "LLC," is a business structure that fits somewhere between the partnership or sole proprietorship and the corporation.
		Also, owners of limited liability companies must file formal articles of organization with their state's LLC filing office, pay a filing fee, and comply with certain other state filing requirements before they open for business.
		Another federal exemption covers "private offerings." A private offering is an unadvertised sale that is limited to a small number of people (35 or fewer) or to those who, because of their net worth or income earning capacity, can reasonably be expected to be able to take care of themselves in the investment process.
	www.nolo.com /article.cfm/objectID/ED01121A-B4BF-498A-8BC0DBD121A0C869/111/182/245/FAQ (1863 words)

	Limited Liability -- Tucson
		Vanguard,: MannyBank Plc was incorporated as a limited liability company in November 1989 and was licensed to operate wholesale banking in December 1989.
		Limited liability for partnerships should be notified seperately.
		Parkersburg News,: The loan is part of an agreement for the WADC to purchase the land from Sutherlins Limited Liability Co., a division of JLSS, LLC.
	bluegrouper.com /feb2004/Limited_Liability/Tucson.html (3205 words)

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