​Generally, If a Member Dissociates Form a Limited Liability Company

question 2

True/False

​Generally, if a member dissociates form a limited liability company (LLC), the other members cannot continue to carry on the LLC's business.

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Definitions:

Mens Rea

A legal principle referring to the intent or knowledge of wrongdoing that constitutes part of a crime, as opposed to the action or conduct of the accused.

Wrongful State of Mind

A mental state reflecting intent to deceive, commit fraud, or misconduct, often relevant in legal cases assessing punitive damages or criminal intent.

Embezzlement

The act of withholding assets for the purpose of conversion of such assets, by one or more individuals to whom the assets were entrusted, either to be held or to be used for specific purposes.

Larceny

The unlawful taking and carrying away of someone else's personal property with the intent to deprive the rightful owner of it permanently.