Is Martin correct that they will lost the protection of limited liability if Bruno ceases participating in management decisions?
A) Yes,like a limited partnership,there is no limited liability unless Bruno is a limited member.
B) No,an owner does not have to give up his right to participate in management in order for an LLC to obtain limited liability.
C) Yes,if an LLC member who participated in management chooses to give up this right,the LLC could lose protection.
D) Yes,an owner must give up his right to participate in management in order for an LLC to obtain limited liability.
E) Martin would be correct if Bruno seeks dissolution.
Correct Answer:
Verified
Q69: Can Cole design software for the biotech
Q70: Which statement is true regarding whether Ryan
Q71: Pietro and Avana have a partnership importing
Q72: Which of the following is true about
Q73: Is Martin correct that Bruno can be
Q75: Which of the partners can demand that
Q76: If the bank loan cannot be paid
Q77: Which statement is true regarding whether the
Q78: In what order should the partnership's debts
Q79: [Candy Company] Milton,Ava,and Hiro own a candy
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