What is required to be recognized as a non-corporate entity?
39.1 In order to be recognized as a non-corporate entity, there cannot be more than four corporate characteristics, as follows: a) Continuity of life; b) Centralization of management; c) Free transferability of interest; and d) Limited liability. 39.2 When establishing the LLC, Delaware law allows you to carefully select what type of characteristics the entity should have. Otherwise it will be deemed a corporation.
