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A series LLC is a special form of a limited liability company that allows a single LLC to segregate its assets into separate series. For example, a series LLC that purchases separate pieces of real estate may put each in a separate series so if the lender forecloses on one piece of property, the others are not affected.
[1] [2] A shareholder in a corporation or limited liability company is not personally liable for any of the debts of the company, other than for the amount already invested in the company and for any unpaid amount on the shares in the company, if any—except under special and rare circumstances that permit "piercing the corporate veil."
If, for example, a limited liability business goes bankrupt, then the owner(s) will not lose unrelated assets, such as a personal residence (assuming they do not give personal guarantees). [3] Forms of businesses that offer the limited liability protection include limited liability partnerships , limited liability companies , and corporations .
There are a number of legal benefits that come with incorporation. One significant legal benefit is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal
LLC loan type. Minimum credit score. Advantages. Disadvantages. Term loan. 550. Lump sum up front. Repayable over a set period. Available at most financial institutions
For example, if the construction of a highway under a federal program requires the expropriation of homes, the expropriation must be made by either providing fair compensation for that property or providing assistance for, or reimbursement of, relocation expenses incurred by the affected person.
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