Which of the following is true regarding the legal relationship between a limited liability company and its members?
A) A limited liability company is not a separate legal entity distinct from its members.
B) A limited liability company is a separate legal entity, distinct from its members.
C) A limited liability company is a separate legal entity only from members who own less than fifty percent of the company's stock.
D) A limited liability company is the "alter ego" of its members.
E) A limited liability company is a separate legal entity distinct from its members at the federal level, but not at the state level.
Correct Answer:
Verified
Q85: A limited liability company is a(n)_ LLC
Q86: A limited liability company can be organized:
A)
Q87: Which of the following is not true
Q88: The failure of a limited liability company
Q89: A member's distributional interest in a limited
Q91: A limited liability company with no specified
Q92: A transfer of an interest in a
Q93: A limited liability company's operating agreement may
Q94: Owners of a limited liability company retain
Q95: Which of the following is true regarding
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