Citizens Business Bank

Many companies are operated by way of a separate entity similar to a company or a partnership . Most legal jurisdictions allow people to arrange such an entity by filing certain constitution paperwork with the related Secretary of State or equivalent and complying with certain different ongoing obligations. The relationships and legal rights of shareholders, restricted partners, or members are ruled partly by the constitution documents and partly by the legislation of the jurisdiction where the entity is organized. Generally talking, shareholders in an organization, restricted companions in a restricted partnership, and members in a restricted legal responsibility firm are shielded from personal legal responsibility for the debts and obligations of the entity, … Read more

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