Which of the following is true of a manager-managed LLC?

Question

Quizplus · Accepted Answer

In a manager-managed LLC, the members designate a manager or managers to handle the day-to-day operations and decision-making of the LLC, and the members typically do not participate in the management of the LLC. Therefore, option B - "Members designate a manager or managers to manage the LLC" - is the correct answer. Option A is incorrect because in a manager-managed LLC, not all members have equal rights in the management of the LLC. Option C is incorrect because the designated manager or managers have the authority to manage the LLC, and option D is incorrect because the members generally do not have the right to manage the LLC in a manager-managed structure.

Which of the Following Is True of a Manager-Managed LLC