A Limited Liability Company (“LLC”) is a business entity structure which is allowed by Chapter 608, Florida Statute. As a result, what the statute creates, the statute can also take away. A LLC allows its owners (called Members), to have limited personal liability for the debts and actions of the LLC and is typically governed by an Operating Agreement. There are certain steps that must be taken to ensure that an LLC is properly dissolved. In Florida, there are three different ways that a LLC can be dissolved: (1) Administratively, (2) Voluntarily, and (3) Judicially. Below is a general discussion concerning methods for dissolution and additional considerations for dissolution.
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Commercial Law & Contracts Updates
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