A(n) ________ is created when members for an LLC decide to form and create their organization.
A) operating agreement
B) shareholders agreement
C) member contract
D) corporate agreement
E) partnership agreement

Question

Quizplus · Accepted Answer

An operating agreement is created when members of an LLC (Limited Liability Company) decide to form and create their organization. This document outlines the business's financial and functional decisions including rules, regulations, and provisions. The purpose is to govern the internal operations of the business in a way that suits the specific needs of the business owners.

A(n) ________ Is Created When Members for an LLC Decide