Limited liability means that the liability of each shareholder is limited to the amount unpaid by the shareholder on the shares of the company (except in exceptional circumstances, such as involving fraud, the establishment of an agency relationship or an illegal or improper purpose or other circumstances in which a court may be prepared to pierce or lift the corporate veil).
Limited liability partnership or “LLP” shall mean a Company governed by Limited Liability Partnership Act 2008 or as amended.
Manager-managed limited liability company means a limited liability company that is managed by
Trust Company means a financial institution, corporation, or other legal entity, authorized to exercise general trust powers.
Foreign limited liability company means an unincorporated entity formed under the law of a jurisdiction other than this state and denominated by that law as a limited liability company.
Member-managed limited liability company means a limited liability company that is not a manager-managed limited liability company.