Unlimited company: Difference between revisions
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An unlimited liability company is a company where the members may be called upon to pay any amount if the company goes into liquidation. | An unlimited liability company is a company where the members may be called upon to pay any amount if the company goes into liquidation. | ||
In other words the liability of the members of the company is unlimited. | In other words the liability of the members of the company is unlimited. | ||
The company, though, is still a separate legal person. | The company, though, is still a separate legal person. | ||
In an unlimited UK company, there is no obligation to file accounts. | In an unlimited UK company, there is no obligation to file accounts. | ||
Revision as of 22:52, 11 December 2014
Abbreviation for Unlimited liability company.
An unlimited liability company is a company where the members may be called upon to pay any amount if the company goes into liquidation.
In other words the liability of the members of the company is unlimited.
The company, though, is still a separate legal person.
In an unlimited UK company, there is no obligation to file accounts.
Such a company can only be registered as a private company.
