Uniform Limited Liability Company Act (ULLCA)

The Uniform Limited Liability Company Act (ULLCA) is a standardized legal framework that governs how Limited Liability Companies (LLCs) operate across different states. It provides clear rules for forming an LLC, managing its affairs, and handling financial responsibilities, while protecting members from personal liability beyond their investment. The ULLCA aims to promote consistency, fairness, and transparency in LLCs, making it easier for businesses to form and operate legally, with clear guidelines that help prevent disputes and ensure proper governance.