A limited liability company can be recreated to avoid termination.
Correct Answer:
Verified
Q119: Limited liability companies need no formal document
Q120: The owners of a limited liability company
Q121: In In re 1545 Ocean Avenue, LLC,
Q122: If the court "pierces the corporate veil"
Q123: LLC members have unlimited liability for torts
Q125: In a corporation, the profits are taxed
Q126: In In re 1545 Ocean Avenue, LLC,
Q127: Partners in a partnership, like corporate shareholders,
Q128: Franchise operators usually pay a franchise fee
Q129: The income from a partnership is taxed
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