The Illinois legislature passed the Illinois Limited Liability Company Act on September 11, 1992.1 The effective date of the Act was January 1, 1994.2 Illinois was the eighteenth state to enact legislation allowing limited liability companies (LLCs). 3 The issue of whetherPotocki, Kristina D...
In 1995, theCommissioners on Uniform Lawsapproved the Uniform Limited Liability Company Act. It was amended in 1996. Unlike otherUniform Actsrelated to business entities, such as the Uniform Partnership Act, the uniform law governing LLCs has not been influential. As of 2003, only eight states ...
Limited liability company name that includes the words or abbreviations:Limited Liability Company,L.L.C., orLLC. Principal place of business (this doesn’t have to be an Illinois address) Effective date of Articles if different than when filed ...
THE SERIES LIMITED LIABILITY COMPANY ILLINOIS AND DELAWARE By: Richard M. Colombik JD, CPA & Linda Godfrey, JD,..
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A limited liability company (LLC) is a partnership or a sole proprietorship that limits the liability of the business to the business, not to the partners or proprietor. Unlike working in a general partnership, the partners of an LLC can operate the business without exposing themselves to ...
The Economics of Limited Liability: An Empirical Study of New York Law Firms Since the rapid rise in organizational forms for business associations, academics and practitioners have sought to explain the choice of form rationale. Ea... S Baker,KD Krawiec - 《University of Illinois Law Review》 ...
Art Ask Agency v. The Individuals, Corporations, Limited Liability Companies, Partnerships, and Unincorporated Associations Identified on Schedule A Hereto (1:22-cv-04286), Illinois Northern District Court, Filed: 08/15/2022...
Limited Liability Company Note that, unlike most states, Illinoisdoes not allowLLC business names to include the abbreviations “Ltd.” or “Co.” The name of your LLC also cannot have a name that makes it sound like a corporation or limited partnership. That means the words “Corporation,”...
LLC stands for “limited liability company”.It is defined as a business structure that is allowed by state statute that combining some elements of a sole proprietorship or partnership with aspects of a corporation. This unique classification, like a corporation, enables an LLC to be considered a...