Author: Llc Platinum Black Services

Publisher: Createspace Independent Publishing Platform

Published: 2017-09-03

Total Pages: 134

ISBN-13: 9781973870456

Starting an LLLP (Limited Liability Limited Partnership)? Started an LLLP and need to issue partnership certificates that look professional and are easy to use? If yes, then this book is for you! What is an LLLP (Limited Liability Limited Partnership)? An LLLP is a relatively new business type that modifies the structure of an LP (Limited Partnership). Similar to an LP, an LLLP can have one or more "general partners" and one or more "limited partners." In addition, the general partners are still responsible for the day-to-day operations of the company while the limited partners may or may not be involved with the company's daily operations. With an LP, only the limited partners have limited liability. With an LLLP, the general partners also have limited liability similar to shareholders of a corporation. Currently, there are 27 states (along with the US Virgin Islands) that recognize the formation of an LLLP. Owners of an LLLP are referred to as "partners." What is an LLLP partnership certificate? An LLLP partnership certificate is a document that certifies ownership and specifies the number of units or percentage owned by a partner in an LLLP. While LLLP partnership certificates aren't required by federal or state law, it is still highly recommended for LLLPs to use them. Without an LLLP partnership certificate to show evidence of ownership a partner may have no say or control in how an LLLP is structured or operates. LLLP partnership certificates should be issued during the initial meeting of its partners. A partnership transfer ledger must also be used to accurately record partnership transactions whether it is an initial issuance of units or percentage of ownership or any subsequent transfers during the LLLP's existence. This book contains 20 blank LLLP partnership certificates (for the use of any LLLP organized in the state of Arkansas), a partnership transfer ledger to record buy-sell transactions of units or percentage of ownership, and bill of sale forms to document the purchase of units or percentage of ownership. Other titles available: LLLP Partnership Certificates Corporate Starter Kit: Organized in the State of (Alabama, Arizona, Arkansas, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Iowa, Kentucky, Maryland, Minnesota, Missouri, Montana, Nevada, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Dakota, Texas, Virginia, Washington, and Wyoming) Other books available: - Common Stock Certificates Corporate Starter Kit: Incorporated in the State of (available in all 50 states) - LLC Membership Certificates Corporate Starter Kit: Organized in the State of (available in all 50 states) - GP Partnership Certificates Corporate Starter Kit: Established in the State of (available in all 50 states) - LP Partnership Certificates Corporate Starter Kit: Organized in the State of (available in all 50 states) - LLP Partnership Certificates Corporate Starter Kit: Organized in the State of (available in all 50 states) - NP Membership Certificates Corporate Starter Kit: Incorporated in the State of (available in all 50 states)