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what is a limited liability company
Wheaton, IL
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Posted 3 months ago in Ethics / Professional Responsibility
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i was told by an attorney that a company that a lawsuit was filed against, has a maximum amount of funds set aside just for this purpose since they have become new owners of the existing nursing home. is this the purpose of an LLC?
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Answers (1)
Alan James Brinkmeier
This attorney is licensed in Illinois.
Posted 3 months ago.
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A limited liability company in the law of the vast majority jurisdictions is a form of business company that provides limited liability to its owners, called members.
Check with a lawyer in your locale to discuss more of the details. Good luck to you. God bless. NOTE: This answer is made available by the lawyer for educational purposes only. By using or participating in this site you understand that there is no attorney client privilege between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed professional attorney that practices in the subject practice discipline and with whom you have an attorney client relationship along with all the privileges that relationship provides. The law changes frequently and varies from jurisdiction to jurisdiction. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question. |
