Reciprocal V LLC, LP and GP
Reciprocals have been compared to limited liability companies (LLCs), limited partnerships (LPs), and general partnerships (GPs).
Members of a reciprocal may be either a natural person, an LLC or LP, a partnership, or a corporation. In some states, municipalities form reciprocals to cross-indemnify towns, cities, villages, and counties. Reciprocals are sometimes confused with incorporated mutual insurance companies.
Read more about this topic: Reciprocal Inter-insurance Exchange
Famous quotes containing the word reciprocal:
“I had no place in any coterie, or in any reciprocal self-advertising. I stood alone. I stood outside. I wanted only to learn. I wanted only to write better.”
—Ellen Glasgow (1873–1945)