Proprietary Companies Have a Limit of How Many Members

question 9

Multiple Choice

Proprietary companies have a limit of how many members?

• A) 4
• B) No maximum number of members
• C) 40
• D) 50

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Definitions:

Benefit Corporation

A type of for-profit corporate entity that includes positive impact on society, workers, the community, and the environment in addition to profit as its legally defined goals.

Public Benefit

A positive impact or contribution to the wellbeing of the general public or community at large.

Materially Affected

A condition in which a party's rights, duties, or interests are significantly influenced or altered, typically in a legal or financial context.

Bylaws

The rules and regulations enacted by an organization or community to provide a framework for its operations and management.