ULC
Abbreviation with 2 meanings
| Stands for | Uniform Law Commission |
|---|---|
| Meanings | 2 |
| Categories | Law & Legal, Business & Finance |
ULC has two meanings. It stands for Uniform Law Commission (legal profession) or Unlimited liability corporation (company type).
Meanings of ULC at a glance
| # | ULC stands for | Context |
|---|---|---|
| 1 | Uniform Law Commission | Law & Legal › Legal Profession |
| 2 | Unlimited liability corporation | Business & Finance › Company Type |
1. Uniform Law Commission
Law & Legal · Legal Profession Abbreviations
Nonprofit organization, founded in 1892, of commissioners appointed by every state, the District of Columbia, Puerto Rico and the U.S. Virgin Islands that drafts uniform acts for states to adopt, such as the Uniform Commercial Code and the Uniform Probate Code. Its formal name is the National Conference of Commissioners on Uniform State Laws.
Example: The ULC approved a model public expression protection act, and several states have since enacted it.
Commissioners are lawyers, judges, legislators and law professors who serve without pay. A uniform act has no force until a state legislature enacts it, often with changes. Its most successful product, the UCC, was developed jointly with the American Law Institute. The older abbreviation is NCCUSL.
2. Unlimited liability corporation
Business & Finance · Company Type Abbreviations
Canadian corporation available in Nova Scotia, Alberta and British Columbia whose shareholders can be liable for its debts in certain circumstances, typically on liquidation. US companies use ULCs because they can be treated as pass-through entities for US tax while remaining corporations for Canadian tax.
Example: The US parent acquired the Canadian business through an Alberta ULC to get flow-through tax treatment.
Nova Scotia's version is styled "Unlimited Company," while Alberta and British Columbia use "Unlimited Liability Corporation" or "Unlimited Liability Company"; all may use the ULC suffix. Changes to the Canada-US tax treaty in 2008 reduced, but did not eliminate, the advantages of the structure.
Related abbreviations
More legal profession abbreviations
- 1L – First-year law student
- 2L – Second-year law student
- 3L – Third-year law student
- ABA – American Bar Association
- ABS – Alternative business structure
- ACC – Association of Corporate Counsel
- AGC – Associate general counsel
- ALI – American Law Institute
See all 46 legal profession abbreviations →
More company type abbreviations
- A/S – Aktieselskab (stock company, Denmark)
- AB – Aktiebolag (limited company)
- AG – Aktiengesellschaft (stock corporation)
- ApS – Anpartsselskab (private limited company)
- AS – Aksjeselskap / aktsiaselts (limited company)
- ASA – Allmennaksjeselskap (public limited company)
- B Corp – Certified B Corporation
- Bhd – Berhad (public limited company)
See all 78 company type abbreviations →
This entry is for general education and is not legal advice. Abbreviation use varies between institutions; always confirm in context.