A limited liability company (one limited by shares)is one where:

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In a limited liability company, the shareholders are only liable for the unpaid amount on their shares, and not for any other debts or obligations of the company. This means that their personal assets are protected and they cannot be held personally liable for the company's debts. However, the company itself is still liable for its debts and obligations, and its liability is not limited to a certain percentage or amount.

A Limited Liability Company (One Limited by Shares)is One Where