Under Most Limited Liability Company Statutes, If the Members Do

question 22

True/False

Under most limited liability company statutes, if the members do not specify how profits will be split, they are divided in proportion to the members' capital investment.

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Definitions:

Planned Change

Deliberate and intentional efforts to improve a process, system, product, or organization through specific strategies and actions.

Transactional Change

A type of organizational change focused on making adjustments within the existing framework of operations, often through incentives or penalties.

Transformational Change

Refers to the comprehensive and radical shifts that affect an organization's structure, culture, and operations, aiming for improvements in effectiveness and efficiency.

Reactive Change

Adjustments or transformations that occur in response to external pressures, rather than from proactive planning.