Fay is a member of Garden Groves LLC.Like other members of limited liability companies,Fay's liability for Garden Groves's obligations resembles the liability of

Question

Quizplus · Accepted Answer

A member of a limited liability company has limited liability, similar to a shareholder of a corporation. This means that their personal assets are not at risk in the event that the company incurs debts or legal obligations. This distinguishes them from partners in a partnership or owners of a sole proprietorship, who have unlimited liability and are personally liable for any debts or legal issues the business may face.

Fay Is a Member of Garden Groves LLC