Midterm Examination >Take Test: W4: Midterm Exam Take Test: W4: Midterm Exam Tes
ID: 368376 • Letter: M
Question
Midterm Examination >Take Test: W4: Midterm Exam Take Test: W4: Midterm Exam Test Information Description Instructions Multiple Attempts Not allowed. This test can only be taken once. Force Completion This test can be saved and resumed later This test does not allow backtracking. Changes to the answer after submission a Question Completion Status: Moving to the next question prevents changes to this answer. Question 3 Consent of all members of the limited liability company is NOT usually required to A. amend the limited liability company's operating agreement. B, enter into contracts in the normal course of business. 0 C. amend the limited liability company's articles of organization. D. admit a new member to the company à Moving to the next question prevents changes to this answer 0 DOD FA F2 F5 -F6 F7 F8Explanation / Answer
The vital aspects of the constitution of a limited Liability company ( LLC) can be updated only through consent of all members of LLC since all members have been present at the first instance for the formation of the company.
Such vital updations would include :
Operating agreement of LLC
Amend article of association
Admitting a new member to the company
However consent of all members would not be required for conducting day to day business transactions e.g entering into contracts in the normal course of business
Therefore , correct answer would be “ Enter into contracts in the normal course of business”
ANSWER : B) ENTER INTO CONTRACTS IN THE NORMAL COURSE OF BUSINESS
ANSWER : B) ENTER INTO CONTRACTS IN THE NORMAL COURSE OF BUSINESS