"preneurs" - 1 õppematerjal

Investors Handbook. A Legal Guide to Business in Georgia

in such a way that they are not liable for the LLC's debt obligations. The liability of a partner in an LLC is limited to the investment made in the company, while his or her personal assets are not at risk. The LLC can be established by a single person or by several persons jointly. 6 CYAN MAGENTA YELLOW BLACK 6 Charter capital The presence of charter capital is required to set up a limited liability company. The Law on Entre- preneurs does not establish a minimum or maximum capital requirement for establishing a LLC. The amount of the charter capital, therefore, rests entirely with the partner(s) of the company. Rights and Obligations of Partners The partners of the limited liability company are entitled to create an agreement, which sets forth their rights and obligations and the distribution of shares. This agreement is reflected in the stat- ute of the company. Management