Getting Your LLC Documentation in Order
There are two nightmare scenarios that can turn a business enterprise from a dream into a horror story when a limited liability company’s (LLC) documentation is not in order. First, a failed LLC in California is treated as a general partnership for all purposes. Second, if you are a member of the failed LLC, you will lose the protection of your personal assets from the LLC’s debts and liabilities. Small businesses frequently get started in a rush and are lacking in organization. As a result,...