Most states have passed statutes that say that members of limited liability companies will be personally liable for debts of the business.
Correct Answer:
Verified
Q96: The shareholders of a corporation have the
Q97: Shareholders liability is limited to the extent
Q98: Due to the conflict of interest, in
Q99: Managers hired to run a corporation owe
Q100: The duties owed to shareholder by the
Q102: Typically, members of a limited liability company
Q103: Offshore businesses are often established for tax
Q104: If a corporation is dissolved voluntarily, the
Q105: Limited liability companies are usually retained as
Q106: If a corporation is dissolved voluntarily, there
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