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A limited liability company (LLC) is the United States-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation . [ 1 ]
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.
In the United States, a uniform act is a proposed state law drafted and approved by the Uniform Law Commission (ULC), also known as the National Conference of Commissioners on Uniform State Laws (NCCUSL). [1] Federalism in the United States traditionally limits the legislative authority of the federal government in favor of the states.
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 ...
Court slip opinions from the North Carolina Administrative Office of the Courts; Local ordinance codes from Public.Resource.Org; Case law: "North Carolina", Caselaw Access Project, Harvard Law School, OCLC 1078785565, Court decisions freely available to the public online, in a consistent format, digitized from the collection of the Harvard Law ...
Liability insurance in North Carolina Liability insurance helps pay for other drivers’ damage and injuries if you cause an accident. Here is the amount of coverage that the state requires:
The process of starting up a new corporation is quick, though each state differs. [18] A corporation is not the only kind of business organization that can be chosen. People may wish to register a partnership or a Limited Liability Company, depending on the precise tax status and organizational form that is sought. [19]
Law enforcement officers, except when on duty or acting in an official capacity, have the right to engage in political activity or run for elective office. Law enforcement officers shall, if disciplinary action is expected, be notified of the investigation, the nature of the alleged violation, and be notified of the outcome of the investigation ...