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Limited Liability
Limited Liability is a legal principle that limits the financial liability of shareholders, owners, or members of a company to the amount they have invested in it.
Operating Agreement
An agreement between Limited Liability Company (LLC) members that specifies the organization's financial and operational choices.
LLCs Members
Individuals or entities that hold ownership interest in a Limited Liability Company and have rights and responsibilities as outlined in the LLC agreement.
RULLCA
Revised Uniform Limited Liability Company Act; a standard law adopted by some states to govern the formation, operation, and dissolution of LLCs.
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