Which of the Following Actions Requires Voting of All the Members

question 78

Multiple Choice

Which of the following actions requires voting of all the members of a manager-managed LLC?

• A) expanding operations to another state
• B) admitting new members
• C) signing agreements with other businesses
• D) expanding operations to another country

---

Definitions:

Novation

The act of replacing one obligation with another by mutual agreement between all parties involved, essentially creating a new contract while cancelling the old one.

Right of Recovery

The legal ability to reclaim goods or compensation under the terms of an agreement or through legal proceedings.

Trustee

A person licensed to receive and dispose of the assets of a bankrupt, then distribute the proceeds to the creditors.

Beneficiary

An individual or entity entitled to receive benefits or assets from a trust, will, or life insurance policy.