If There Is No Limited Liability Company (LLC)agreement Covering a Topic

question 17

True/False

If there is no limited liability company (LLC)agreement covering a topic under dispute,the state LLC statute will govern the outcome.

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Definitions:

Near-Monies

Resources that can quickly be turned into cash but aren't actually cash, including savings accounts and certificates of deposit.

Broader Definition

An expanded or more inclusive interpretation of a concept, term, or condition.

Narrow Definition

A specific and limited interpretation of a term or concept, focusing on a particular aspect.

Checkable Deposits

Bank account balances that depositors can withdraw on demand using checks, debit cards, or electronic transfers, essentially acting as money.