Solved

Lynda Is a Member of a Manager-Managed LLC but Is

Question 70

Multiple Choice

Lynda is a member of a manager-managed LLC but is not a manager.However,Lynda has considerable expertise in the business of the LLC.Lynda assisted the managers for the first couple of years of the LLC's existence without any difficulties.During the third year,Lynda began to challenge some of the decisions made by the managers who had begun to shut Lynda out of most decisions.Lynda demands that as a member of the LLC she be allowed to participate in its management and that she be compensated for the services she is providing.In this case:


A) Lynda cannot demand a continued management role,but is entitled to compensation for the services already delivered.
B) Lynda will be allowed to participate in management and is entitled to compensation.
C) Lynda will be allowed to participate,but is not entitled to any compensation.
D) Lynda is not entitled to participate in management,nor is she entitled to compensation.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents