The Definition of a Limited Liability Company Includes That

question 27

Multiple Choice

The definition of a limited liability company includes that:

• A) it is a noncorporate business.
• B) it limits liability for all its owners.
• C) all members may participate in management of the business.
• D) All of these.

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Definitions:

Regulation D

A set of SEC regulations offering exemptions from the registration requirements for certain private placements of securities.

Securities Act of 1933

A U.S. law enacted to regulate the offer and sale of securities, primarily aimed at preventing deceit, misrepresentations, and other fraud in the securities industry.

Preferred Shares

A class of ownership in a corporation that has a higher claim on assets and earnings than common shares, often with dividends that are paid out before those of common shares.

Securities Act

U.S. legislation enacted in 1933 to regulate the sale of securities, primarily aimed at preventing fraud in the securities market.