limited liability company

A company — statutorily authorized in certain states — that is characterized by limited liability, management by members or managers, and limitations on ownership transfer. — Abbr. L.L.C.

— Also termed limited-liability corporation. [Cases: Corporations 3. C.J.S. Corporations §§ 5–7, 62.]

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词条贡献者

译者Carl，知名法学院保险学专业，擅长翻译各种与保险理赔追索相关的法律文件。