An LLLP is a foreign limited liability limited partnership outside the state in which it is formed.

Question

Quizplus · Accepted Answer

An LLLP (Limited Liability Limited Partnership) is a type of partnership that provides limited liability to all its partners, but it is not specifically defined as foreign or domestic based solely on its structure. Whether it is foreign or domestic depends on the jurisdiction in which it is formed and operates.

An LLLP Is a Foreign Limited Liability Limited Partnership Outside