Generally, a Dissociated Member of a Limited Liability Company (LLC)

question 39

True/False

Generally, a dissociated member of a limited liability company (LLC) has the right to buy his or her interest in the LLC from the other members.​

---

Definitions:

Merger

A combination of two or more corporations in which only one of the corporations continues to exist.

Shareholder Approval

The consent given by shareholders, usually through a voting process, for certain decisions or actions proposed by a company's management or board.

Consolidation

The process of combining two or more entities into one, often to streamline operations and reduce costs.

Absorbed Corporation

A company that has been merged into another entity, losing its previous separate identity.