North Carolina Limited Liability Company Act

By Holly Cameron

The North Carolina Limited Liability Company Act is set out in Chapter 57C of the North Carolina General Statutes. The Act lists the relevant law relating to the incorporation of a limited liability company (LLC) in the state of North Carolina. A limited liability company is a form of business entity that combines certain legal aspects of a partnership with those of a traditional corporation.

The North Carolina Limited Liability Company Act is set out in Chapter 57C of the North Carolina General Statutes. The Act lists the relevant law relating to the incorporation of a limited liability company (LLC) in the state of North Carolina. A limited liability company is a form of business entity that combines certain legal aspects of a partnership with those of a traditional corporation.

Name

The name of each LLC in North Carolina must be distinguishable from the name of any other business entity registered in the state. In addition, the name must contain the words, “limited liability company,” or the abbreviation, “LLC” or “L.L.C.” Individuals may check with the Corporations Division of the Department of the Secretary of State to determine whether a proposed name will be acceptable under the law. If an existing LLC wishes to change its name, it must file an amendment to the Articles of Organization and pay a fee of $50.

Ready to start your LLC? Start an LLC Online Now

Articles of Organization

Any individual who wishes to incorporate an LLC in North Carolina may do so by filing Articles of Organization with the Secretary of State and paying the relevant fee. The Articles of Organization must set out the name of the company, the names and addresses of the organizers, and the address of the registered office. The duration of the company may be stipulated in the articles; however, if this is not done, the company is deemed to exist in perpetuity until dissolved by consent of the members or operation of law. Further provisions relating to the running of the company may be added in the form of an operating agreement.

Legal Powers

In North Carolina, unless provided otherwise by the Articles of Organization, an LLC has the same powers as an individual to do whatever is necessary to carry out its business including the power to sue and be sued in its own name. An LLC can also purchase or lease property, make contracts, lend money and do any other legal act that furthers its business.

Continuing Obligations

Every LLC incorporated in North Carolina must file an annual report with the Secretary of State. The annual report must include up-to-date information regarding the members of the company, its registered office and the nature of its business. If the information has not changed, a pre-printed report may be downloaded. The annual report must be delivered by 15th April each year and may be mailed or filed electronically.

Ready to start your LLC? Start an LLC Online Now
State of Delaware Requirements for LLC

References

Related articles

Missouri LLC Statutes

The law relating to limited liability companies in Missouri is contained in Chapter 347 of the revised statutes, also known as the Missouri Limited Liability Company Act. Organizers must file the relevant documentation with the Office of the Secretary of State. If you intend to set up an LLC in the state, note that because of the Missouri Sunshine Law, all information set out in documentation filed with the Secretary of State is subject to public disclosure.

Iowa Limited Liability Company Act

The Uniform Limited Liability Company Act is a set of laws that governs the filing standards and some business aspects of a limited liability company (LLC) in Iowa. The laws are found in Chapter 489 of the Iowa Code. Although the act allows the LLC's operating agreement to manage the company's internal affairs and practices, some requirements in the legislation specifically apply to all LLCs in the state.

LLC Requirements in Georgia

An LLC is a business entity that combines the limited liability of a traditional corporation with the tax advantages of a partnership. The Corporations Division of the Secretary of State handles all the formalities of setting up an LLC in Georgia. The legal provisions regarding LLCs are contained in Title 14 Chapter 11 of the Georgia Code. Under Georgia law, an LLC can be formed for any lawful purpose.

LLCs, Corporations, Patents, Attorney Help

Related articles

Nevada LLC Requirements

Chapter 86 of the Nevada Revised Statutes sets out the requirements for forming a limited liability company, or LLC, in ...

New Jersey LLC Statutes

A limited liability company, or LLC, is a business entity that combines the tax benefits of partnership with the ...

Nevada LLC Filing Requirements

The Nevada Limited Liability Company Act -- Nevada Revised Statutes, Chapter 86 -- provides the filing requirements for ...

Texas Limited Liability Company Rules

A limited liability company (LLC) combines characteristics of both partnerships and traditional corporations. Those ...

Browse by category