Nc Limited Liability Company With Shares
Description
How to fill out North Carolina Sample Cover Letter For Filing Of LLC Articles Or Certificate With Secretary Of State?
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FAQ
The LLC does not have stock or stockholders. Instead, the Operating Agreement has membership interests. The Operating Agreement lists the membership interests of each member rather than in separate member certificates.
This is because creditors and other stakeholders could claim the investors' and owners' assets if the company loses more money than it has. Limited liability prevents that from occurring, so the most that can be lost is the amount invested, with any personal assets held as off-limits.
What is Limited Liability? Limited Liability is a legal structure whereby shareholders or directors are legally responsible for their company's debts only up to the value of their shares. The directors will only be liable for debts of a certain amount ? this is up to the value of the shares they hold in the business.
A limited liability company (LLC) cannot issue shares of stock. An LLC is a business entity structured to have either a single or multiple owners, who are referred to as the LLC's members.
Does an LLC have shares? No. Only businesses structured as a corporation issue shares. With a limited liability company, ownership is expressed by percentage and membership units.
