How Does Limited Liability Affect a Nonprofit
ASU Lodestar Center
NOVEMBER 6, 2013
Limited liability entities are often formed (at least in part) to protect the assets of for-profit business owners from the financial obligations of a particular business. In the case of a nonprofit, however, the entity is generally not permitted to have owners who are entitled to the profits of the organization. 26 USC § 501(c)(3).
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