Absent an agreement,which of the following is correct about a non-manager member's right to compensation for services provided to an LLC?
A) The member is entitled to compensation for any services rendered on behalf of the LLC.
B) The member is entitled to compensation for any services that benefit the LLC.
C) The member is not entitled to compensation for any services provided for the LLC.
D) The member is entitled to compensation for services of winding up the business of the LLC,but not for any other services.
E) The member is entitled to compensation for services so long as the LLC earns a profit in the year the service was provided by the member.
Correct Answer:
Verified
Q61: Dan,Fran,and Stan want to establish and operate
Q62: When choosing the form of business organization
Q63: Thelma and Louise form an LLC for
Q64: Who has the right to manage an
Q65: Norm,Cliff and Sam form a limited liability
Q67: John is in the planning stages of
Q68: Upon the expiration of the term of
Q69: A member's ownership interest in an LLC
Q70: Lynda is a member of a manager-managed
Q71: If a member properly disassociates herself from
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents