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  2. Limited liability limited partnership - Wikipedia

    en.wikipedia.org/wiki/Limited_liability_limited...

    The limited liability limited partnership ( LLLP) is a relatively new modification of the limited partnership. The LLLP form of business entity is recognized under United States commercial law. An LLLP is a limited partnership, and it consists of one or more general partners who are liable for the obligations of the entity, as well as or more ...

  3. Operating agreement - Wikipedia

    en.wikipedia.org/wiki/Operating_agreement

    An operating agreement is a key document used by limited liability companies (LLCs) to outline the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners, called "members".

  4. Low-profit limited liability company - Wikipedia

    en.wikipedia.org/wiki/Low-profit_limited...

    Corporate law. A low-profit limited liability company ( L3C) is a legal form of business entity in the United States. [1] Commonly referred to as a hybrid structure, it has characteristics of both for-profit and non-profit entities. [1] L3Cs were created to comply with the Internal Revenue Service (IRS) program-related investments (PRIs) rules ...

  5. Limited liability company - Wikipedia

    en.wikipedia.org/wiki/Limited_liability_company

    v. t. e. A limited liability company ( LLC) is the United States -specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. [1] An LLC is not a corporation under the laws of every state; it is a legal form ...

  6. Uniform Limited Liability Company Act - Wikipedia

    en.wikipedia.org/wiki/Uniform_Limited_Liability...

    The Uniform Limited Liability Company Act ( ULLCA ), which includes a 2006 revision called the Revised Uniform Limited Liability Company Act, is a uniform act (similar to a model statute ), proposed by the National Conference of Commissioners on Uniform State Laws ("NCCUSL") for the governance of limited liability companies (often called LLCs ...

  7. The Litchfield Company - Wikipedia

    en.wikipedia.org/wiki/The_Litchfield_Company

    The Litchfield Company today. The company's real estate brokerage division was recently purchased by two local businessmen, and operates as The Litchfield Company Real Estate, LLC. Today, the company is recognized as one of the largest resort sales and marketing firms in the southeast. The company is still located in the original Litchfield ...

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