Under the ULLCA,the articles of organization of a limited liability company must set forth whether the limited liability company is a term LLC,and if so,the term specified.

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This statement is true. The Uniform Limited Liability Company Act (ULLCA) requires that the articles of organization of a limited liability company specify whether the company is a term LLC (with a specified duration) or a perpetual LLC (with no predetermined end date). If the company is a term LLC, the articles must also specify the duration of the term.

Under the ULLCA,the Articles of Organization of a Limited Liability