Alternative Unincoporated Business Orgs Flashcards
1
Q
LP Formation
A
must file LP certificate that includes names of all GPs
2
Q
Registered Limited Liability Partnerships (RLLP) formation
A
filing a certificate of registration with label RLLP & stating the profession to be practiced
3
Q
Limited Liability Companies (LLC)
A
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
4
Q
LLC Formation requirements
A
must file articles of organization & must publish a summary of articles in 2 newspapers an may adopt an operating agreement
