Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
7 Cards in this Set
- Front
- Back
|
Limited liability company
|
Entity providing full protection for its members from all personal liability, whether arising in tort or contract; must comply with statues
|
|
|
Members
|
Participants in a limited liability company
|
|
|
ULLCA
|
Uniform Limited Liability Company Act, a uniform act to guide operation and management of LLCs
|
|
|
Articles of organization
|
Document filed with the state that creates an LLC
|
|
|
Operating agreement
|
Agreement governing the operation of an LLC
|
|
|
Member-managed LLC
|
An LLC managed by its members
|
|
|
Manager-managed LLC
|
An LLC managed by appointed managers rather than its membership
|
