#unlimited_company

Unlimited company

Company where shareholders/members have unlimited legal liability

An unlimited company or private unlimited company is a hybrid company (corporation) incorporated with or without a share capital but where the legal liability of the members or shareholders is not limited: that is, its members or shareholders have a joint and several non-limited obligation to meet any insufficiency in the assets of the company to enable settlement of any outstanding financial liability in the event of the company's formal liquidation.

Sun 21st

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