Alaska Limited Liability Company Definition
Alaska Limited Liability Company
DEFINITION
An Alaska limited liability company is a legal business entity, a “person” by law, which exists separate from its members. An LLC shares limited liabilities features of a corporation but the management and tax efficiencies of a partnership. An LLC must have at least one member. A member of an LLC is a “person” (individual or entity) who own interest in the LLC. An LLC may have a manager, who is not required to be a member. Managers or members manage the LLC. The internal affairs of the LLC are governed by an operating agreement, which is kept and maintained by the LLC. Members' liabilities are limited to their financial contributions. Limited liability does not shield owners of the LLC from the negligence liability.
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Arizona Member
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