1. A limited liability company shall have a name derived from its objective or from the name of one or more of its partners, provided that the name of the company shall be followed by the expression "Limited Liability Company" or in short "LLC". In the case of One Person Company (OPC), the name of the company shall be followed by the expression "Limited Liability One Person Company (OPC)". The Cabinet may - based upon the proposal of the Minister - issue a resolution on the procedures for incorporating and managing the "limited liability" One Person Company (OPC) in light of its nature. 2. If the manager[s] violate the provision of Clause [1] of this Article, they shall be held jointly liable in their private property for the obligations of the company, and, where applicable, for the damages.
Interpretation and application must be checked against the official text and current version.