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A Limited Liability Company Is a Citizen Only of the State

question 66

True/False

A limited liability company is a citizen only of the state in which it was formed.


Definitions:

Conscientiousness

A personality trait characterized by thoroughness, diligence, and the desire to do one’s work well.

CEO

Chief Executive Officer, the highest-ranking person in a company or other institution, ultimately responsible for making managerial decisions.

Top Management Team Conscientiousness

The collective attention to detail, diligence, and organizational abilities of a company's top management team.

Organizational Performance

The ability of an organization to achieve its goals and objectives, often evaluated based on criteria such as profitability, efficiency, and satisfaction among stakeholders.

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