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The articles of organization outline the governance of an LLC along with the operating agreement and the corporate statutes in the state where articles of organization are filed. The articles of organization document typically includes the name of the LLC, the type of legal structure (e.g. limited liability company, professional limited ...
[14] [15] Unlike the traditional LLC, the L3C's articles of organization are required by law to mirror the federal tax standards for program-related investing. [16] A program-related investment (PRI) is one way in which foundations can satisfy their obligation under the Tax Reform Act of 1969 to distribute at least 5% of their assets every year ...
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.
The articles of association of a company, or articles of incorporation, of an American or Canadian company, are often simply referred to as articles (and are often capitalized as an abbreviation for the full term). The Articles are a requirement for the establishment of a company under the law of India, the United Kingdom, Nigeria, Pakistan and ...
The Delaware Division of Corporations will not provide a separate certificate of good standing for each series, but it will provide a certificate of good standing saying that the entire company is a series LLC (and not just a traditional LLC). [citation needed] In 2015, Texas amended Section 1.201(b)(27) of the Texas Business & Commerce Code to ...
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
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