Which of the following is a correct statement regarding financing of the LLC?

Question

Quizplus · Accepted Answer

Members' contributions to the LLC can be in the form of promissory notes. This means that instead of contributing money or physical assets, a member can promise to contribute funds at a later date. However, it is important to note that this must be agreed upon by all members and outlined in the operating agreement. Contributions in the form of contracts for services or intangible property are also possible but must be agreed upon by all members and valued appropriately.

Which of the Following Is a Correct Statement Regarding Financing