McAllen Limited Liability Partnership (LLP) Lawyer

The LLP is a relatively recent business arrangement. Texas wrote the statutes for the first LLPs in 1991 to protect accountants, lawyers, and other professionals who were not responsible for any wrongdoing, but who had performed services for failing and negligent organizations. Since then, law surrounding LLPs has expanded.

One advantage of the LLP is that one partner, as long as he is not supervisory to, directly involved with, or aware of errors made by another partner, cannot be held legally liable for those errors. Partners are also not personally liable for debts and obligations that arise from running their business. Application for LLP status requires prior existence as a general or limited partnership.

Weighing the pros and cons of registering your existing partnership as an LLP is not a process that should be done without legal counsel. For LLPs, liability status and insurance obligations are substantially different from LLCs. Business with foreign states is also more complex, since not all states have adopted the Uniform Partnership Act, and not even all those that have have adopted the same version.

When you’re registering an LLP, you need legal help.

Your Partner in Starting Your LLP

Michael Pruneda of the Pruneda Law Firm, P.L.L.C. is a McAllen business lawyer with the legal and business experience to help you register and run your LLP.  His business credentials come from his own experience with business and running a law firm that bears his name. His multifaceted experience helps him handle a wide variety of problems and questions you may have about starting an LLC or another type of business.

If you or anyone you know needs assistance registering or running an LLP, contact the McAllen business lawyers of the Pruneda Law Firm, P.L.L.C. at 956-702-9675.