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4 Cards in this Set
- Front
- Back
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limited liability partnership
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Partnership providing protection against liability for wrongful conduct of other partners, formed by compliance with statues
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Partial shield states
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States in which partners in an LLP retain liability for contractual obligations
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Full shield status
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States in which partners in an LLP are fully protected from personal liability, whether arising in tort or contract
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Bulletproof states
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A state offering full protection from liability in an LLP, whether arising from tort or from contract
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