Category: Business Law
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How to Form a Limited Liability Partnership (LLP) in New Mexico
To properly form a Limited Liability Partnership (LLP) in New Mexico, the following steps must be taken: Approval of Terms and Conditions The partnership must approve the terms and conditions for becoming an LLP. This approval must be obtained by the vote necessary to amend the partnership agreement. If the partnership agreement includes provisions regarding…
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Security Finance Laws: What They Are and Why They Matter
What’s a Security Finance? “Security finance” means setting up rules to protect lenders and borrowers when property (like a house or equipment) is used as collateral. If someone does not repay a loan, the lender can take the property. These rules help everyone understand who owns what and in what order (priority) when there’s a…