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Certificate of Limited Liability Limited Partnership - Utah
Certificate of Limited Liability Limited Partnership is a legal document that was released by the Utah Department of Commerce - a government authority operating within Utah.
FAQ
Q: What is a Certificate of Limited Liability Limited Partnership?
A: A Certificate of Limited Liability Limited Partnership is a legal document that establishes a limited liability limited partnership (LLLP) in the state of Utah.
Q: What is a limited liability limited partnership?
A: A limited liability limited partnership is a type of business entity that combines the features of a limited partnership and a limited liability company (LLC). It offers limited liability protection to its partners while also allowing them to actively participate in the management of the business.
Q: What is the purpose of a Certificate of Limited Liability Limited Partnership?
A: The purpose of a Certificate of Limited Liability Limited Partnership is to legally form a limited liability limited partnership in the state of Utah. It provides legal recognition to the partnership and outlines its structure, operations, and management.
Q: How do I obtain a Certificate of Limited Liability Limited Partnership in Utah?
A: To obtain a Certificate of Limited Liability Limited Partnership in Utah, you must file the necessary documents with the Utah Division of Corporations and Commercial Code. You will need to provide information about the partnership, its partners, and its business activities.
Q: What information is required to be included in a Certificate of Limited Liability Limited Partnership?
A: A Certificate of Limited Liability Limited Partnership typically requires information such as the name of the partnership, the names and addresses of the partners, the purpose of the partnership, and the duration of its existence.
Q: Is there a fee to file a Certificate of Limited Liability Limited Partnership in Utah?
A: Yes, there is a fee to file a Certificate of Limited Liability Limited Partnership in Utah. The exact fee amount may vary, so it is best to check with the Utah Division of Corporations and Commercial Code for the current fee schedule.
Q: Can a limited liability limited partnership be formed by a single person?
A: No, a limited liability limited partnership cannot be formed by a single person. It requires at least two partners, one of whom must be a general partner with unlimited liability.
Q: What are the advantages of a limited liability limited partnership?
A: Some advantages of a limited liability limited partnership include limited liability protection for partners, flexibility in management structure, and potential tax benefits.
Q: What are the disadvantages of a limited liability limited partnership?
A: Some disadvantages of a limited liability limited partnership include the complexity of formation and ongoing compliance requirements, potential disputes between partners, and the possibility of personal liability for general partners.
Q: Can a limited liability limited partnership be converted into a different business entity?
A: Yes, a limited liability limited partnership can be converted into a different business entity, such as a limited partnership or a limited liability company, through a formal conversion process.
Form Details:
- Released on January 1, 2014;
- The latest edition currently provided by the Utah Department of Commerce;
- Ready to use and print;
- Easy to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of the form by clicking the link below or browse more documents and templates provided by the Utah Department of Commerce.
