LLLP
Business & Finance abbreviation · Company Type
| Stands for | Limited liability limited partnership |
|---|---|
| Categories | Business & Finance |
LLLP stands for Limited liability limited partnership, a company type abbreviation.
Limited partnership whose general partners also enjoy limited liability, so no partner is personally responsible for the partnership's debts. The form exists only in some US states and is used mainly for real estate and family investment partnerships.
Example: The ranch is held by a Colorado LLLP so that neither the parents nor the children face personal liability.
Usage notes
The Uniform Limited Partnership Act of 2001 made LLLP status available by a simple statement in the certificate of limited partnership, but not every state has adopted it. Because recognition is incomplete, an LLLP doing business in a state that lacks the form may face uncertainty about its general partners' liability.
Related abbreviations
More company type abbreviations
- Kft. – Korlátolt felelősségű társaság (limited liability company)
- KG – Kommanditgesellschaft (limited partnership)
- KGaA – Kommanditgesellschaft auf Aktien (partnership limited by shares)
- KK – Kabushiki kaisha (stock company)
- L3C – Low-profit limited liability company
- LLC – Limited liability company
- LLP – Limited liability partnership
- LP – Limited partnership
- Ltd. – Limited
- Ltda – Limitada (limited company)
- Ltée – Limitée (limited)
- NL – No liability