This is a business structure which became available January 1, 1993. It can function like a partnership, or sole proprietorship, where partners/sole proprietors are not liable for its debts and obligations. With a special election a Limited Liability Company can function as a Corporation.


  • Choice of Taxation Method

  • Centralized Management Structure — Board of Governors

  • Limited Legal Liability


  • Lack of Continuity — unless a continuity agreement is put in place

  • Public Filing Necessary

  • Annual Registration — must be filed with Secretary of State