According to the Uniform Limited Liability Company Act,unless the operating agreement specifies otherwise,limited liability companies are ________.
A)member-managed
B)manager-managed
C)managed by an independent director
D)managed by a board of directors
E)managed by corporate officers

Question

Quizplus · Accepted Answer

According to the Uniform Limited Liability Company Act (ULLCA),unless the operating agreement specifies otherwise,limited liability companies are member-managed.In a member-managed limited liability company (LLC),all members participate in management,with decisions in the ordinary course of business activities made by a majority vote.

According to the Uniform Limited Liability Company Act,unless the Operating