________ will usually state whether an LLC is member-managed or manager-managed and how members will share profits.

Question

Quizplus · Accepted Answer

Although not required,an LLC will typically have an operating agreement,which is an agreement of the members.The operating agreement will usually state whether the LLC is member-managed or manager-managed.It also will cover how members share profits,manage the LLC,and withdraw from the LLC,among other things.

________ Will Usually State Whether an LLC Is Member-Managed or Manager-Managed