Entities in Pennsylvania
Contents
Corporations
Nature
Creation
Authority
Underwriting Corporations
Standard Requirement:
Limited Liability Companies (LLC)
LLCs are governed by the Pennsylvania Associations Code, and specifically Chapter 88.
Nature
An LLC is an entity distinct from its member or members, and has a perpetual duration.[1]
Creation
Authority
Underwriting LLCs
Standard Requirement:
(a) Certificate of Organization and all Amendments thereto filed with the Department of State of Pennsylvania.
(b) Operating Agreement and all Amendments thereto.
(c) Furnish proof that all the Consents and Requirements of the Operating Agreement have been met with respect to the authority of the members or managers to execute and deliver the title documentation on behalf of said LLC for this transaction.
(d) Settled taxes due the Commonwealth of Pennsylvania by said LLC.
(e) Furnish proof that said LLC is presently in good standing with the State of Pennsylvania or other state of formation, and that it has registered to do business in Pennsylvania.
Partnerships
General Partnerships
Limited Partnerships
Limited Liability Partnerships & Limited Liability Limited Partnerships
Unincorporated Associations
Business Trusts
Sole Proprietorships
Sole proprietorships, even when accompanied by a "doing business as" or fictitious name filing, are not separate entities from their owners, and do not offer any protections from liens or judgments against the owner or the business.
