Alternative Unincoporated Business Orgs

Question 1

LP Formation

Answer 1

must file LP certificate that includes names of all GPs

Question 2

Registered Limited Liability Partnerships (RLLP) formation

Answer 2

filing a certificate of registration with label RLLP & stating the profession to be practiced

Question 3

Limited Liability Companies (LLC)

Answer 3

hybrid between corp and a partnership which owners tho are called members have the same rights & limited liability of shareholders in a corp plus benefits of partnership tax treatment

Question 4

LLC Formation requirements

Answer 4

must file articles of organization & must publish a summary of articles in 2 newspapers an may adopt an operating agreement