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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 ...
Company limited by guarantee having a share capital – As with a private company if the maximum number of members is 99. Members have liability either for the amount, if any, that is unpaid on the shares they hold, or for the amount they have undertaken to contribute to company assets, in the event that it is wound up. A public limited company.
Members of an L3C are considered a fiduciary of the organization. Depending on a member's role in the organization, they may have varying fiduciary duties. Two common fiduciary duties are a duty of care and a duty of loyalty. Violations of these duties can result in a civil lawsuit and lead to compensatory damages and punitive damages. Note ...
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The minimum number of members necessary for registration as a limited company was reduced to seven by the Companies Act 1856. Limited companies in England and Wales now require only one member. [19] Similar statutory regimes were in place in France and in the majority of the U.S. states by 1860.
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