The liability of a limited liability Telephone Number List company is limited for all its members, managers and officers. As long as the State's statutory requirements are followed, the members, managers and officers of the business are not personally held liable for any debt, liability or obligations of the business Telephone Number List arising in contact, tort or otherwise solely by being a member, manager or officer of the business.
Corporation (commonly Telephone Number List known as a C or regular corporation), is by far is the most Telephone Number List common and well known form of business entity. All corporations are governed by the State of incorporation and are treated as separate and distinct legal entities separate from its owners Telephone Number List with all the rights to own property, make contracts and sue in its own name.
Compliance requirements for a corporation Telephone Number List require strict statutory compliance, such as, filing the Articles of Incorporation with the State, filing a Statement of Information with the State, obtaining an agent for service of process, establishing bylaws, issuance of stock, establishing a board of directors, appointment of officers, holding annual shareholder meetings, holding annual director meetings, and maintaining Telephone Number List books and records of written minutes.