Question
1. When a member with a minority interest in an LLC acquires enough ownership interests in the LLC to hold a majority interest: a. a
1. When a member with a minority interest in an LLC acquires enough ownership interests in the LLC to hold a majority interest:
a. a change of ownership occurs
b. reassessment of the entire parcel of real estate owned by the LLC is triggered
c. both a. and b.
d. neither a. nor b.
2. An assignment of a member s interest in an LLC with or without the approval of the other members:
a. dissolves the LLC.
b. does not dissolve the LLC.
c. automatically gives the buyer the rights of the manager.
d. automatically entitles the buyer to governing rights held by a voting member.
Please explain you answer. No explanation, means unhelpful rate. Thank you.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Sure lets go through both questions in detail Question 1 Reasoning Change of Ownership When a member ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started