In a member-managed limited liability company, who controls the operation of the firm?

Question

Quizplus · Accepted Answer

In a member-managed limited liability company, the members are the ones who control the operation of the firm. This means that each member has a say in the management of the company and can participate in decision-making processes. In contrast, in a manager-managed LLC, a designated manager is responsible for the day-to-day operations of the company, and members are more passive in their involvement.

In a Member-Managed Limited Liability Company, Who Controls the Operation