Henry decides to become a member of a limited liability company (LLC). What will happen to the company if Henry withdraws his membership and invests in other businesses?
What will be an ideal response?
If Henry decides to withdraw his membership from the limited liability company, the LLC will have to dissolve. An LLC has a short life span because, unlike an S or C corporation, it must dissolve when a member decides to leave. Some states also require that an LLC list a dissolution date in the articles of organization.
Business
You might also like to view...
An interest in real property can be acquired through "adverse possession" or by "prescription." The interest acquired by prescription is:
A: The right to use the land of another; B: An equitable title; C: A legal title; D: A private grant.
Business
Organizational structure identifies the grouping of individuals into:
A) Organizations. B) Companies. C) Silos. D) Departments.
Business