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Alaska Partnership
Alaska Limited Liability Partnership
Limited Liability Partnership Name
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The name must be distinguishable from businesses
on file with the division, and must contain the words �limited liability partnership� or the
initials �LLP.�
To form a limited liability partnership, complete and submit a signed original and exact
copy of the enclosed application together with a check or money order payable to the State
of Alaska in the amount of $250. The application should be mailed to The State of Alaska,
Division of Banking, Securities and Corporations.
- Instructions on
completing application
- List the name of the
partnership.
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State the purpose of the limited liability partnership, and designate the appropriate
Standard Industrial Classification (SIC) code from the attached list.
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List the name of the (enter) registered agent. The agent must be an individual or a
corporation authorized to transact business in Alaska.
- List the mailing address of the (enter) agent. If the address is a postal box, you must
include a physical address for the agent.
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List the principal business mailing address for the LLP. The principal business address
may be an out-of-state address.
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List the names and addresses of each general partner maintaining an office in Alaska.
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State any terms and/or conditions setting out the period of time that the LLP is to exist.
The default provision is perpetual.
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Make sure to comply with the financial responsibility requirements set out in
AS 32.05.416. Those requirements are as follows:
(a) A registered limited liability partnership shall at all times have and maintain liability
insurance or qualifying assets in an amount of value not less than $1,000,000 to
satisfy liabilities described in AS 32.05.100(b). To the extent the partnership
maintains insurance that is subject to a deductible, it shall maintain qualifying
assets in the deductible amount.
(b) A foreign limited liability partnership may conduct business in this state under
AS 32.05.600 if during the period it is conducting business in this state it has and
maintains liability insurance or qualifying assets in an amount of value not less
than $1,000,000 to satisfy liabilities that arise from
(1) acts or omissions in this state of the type described in AS 32.05.100(b); or
08-436 (Rev. 7/99)
(2) other conduct for which the liability of partners is limited under the law of the
jurisdiction in which the foreign limited liability partnership is organized.
(c) To the extent that a registered limited liability partnership or a foreign limited
liability partnership maintains liability insurance or qualifying assets under the laws
of another jurisdiction, the liability insurance or qualifying assets maintained under
those laws satisfy (a) - (b) of this section if the amount of the insurance or assets is
equal to or greater than the amount required by (a) - (b) of this section.
(d) In a court action against a registered limited liability partnership or foreign limited
liability partnership in the courts of this state, upon request of a party to the court
action and subject to an order of the court, the partnership shall provide a
certification stating that the partnership is in compliance with this section,
describing the method by which the partnership has complied with (a) - (c) of this
section, and identifying the depository institution holding the qualifying assets or
insurance carrier issuing the liability insurance specified in (a) - (c) of this section.
(e) If a registered limited liability partnership or foreign limited liability partnership fails
to maintain the insurance or qualifying assets required by (a) - (c) of this section,
the partners are jointly liable for the debts, obligations, and liabilities of the
partnership, except that the aggregate amount for which the partners are jointly
liable is limited to the amount of insurance or qualifying assets that would have
been required to satisfy the requirements of (a) - (c) of this section.
(f) In this section, "qualifying assets" means
(1) cash, federally insured deposits of a bank or other financial institution, and
obligations of the United States or one of its instrumentalities having a maturity
of not more than one year, if the partnership segregates the cash, deposits, or
obligations from other partnership property and specifically designates the
cash, deposits, or obligations for the exclusive purpose of satisfying liabilities
described in AS 32.05.100(b); or
(2) a letter of credit issued by a federally insured depository institution for the
benefit of persons in whose favor a judgment has been entered against the
partnership arising from liabilities described in AS 32.05.100(b).
The date of registration will be the date the documents are received in this office in
statutory compliance, unless a future date is requested. If the documents are not in
statutory compliance, they will be returned for correction.
In addition to an application for registration, a limited liability partnership may need to
obtain an Alaskan Business License and file for unemployment tax withholdings. For
business license information, contact the Division of Occupational Licensing at (907) 465-
2550. For information on unemployment tax withholdings, contact the Department of Labor
at (907) 465-2757.
08-436 (Rev. 7/99)
- Filling Fees
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