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Bart, Sam, and Greg create Big Barns Sales LLC, a company that builds pre-constructed barns. They file the certificate of organization with the secretary of
Bart, Sam, and Greg create Big Barns Sales LLC, a company that builds pre-constructed barns. They file the certificate of organization with the secretary of state and create an operating agreement for the LLC. The operating agreement, however, does not address the method by which the LLC will be managed. Because management of the LLC is not addressed in the operating agreement, it is assumed the LLC will be:O manager-managed; the members will designate a person or persons to manage the LLC, and none of the managers can be members. member-managed, and the member with the largest capital investment will control the decisions of the LLC. member-managed; all members will vote on decisions of the LLC, and the majority vote controls manager-managed, and the members will designate a person or persons to manage the LLC, which may include nonmembersLola, Jacy, and Tate plan to create a company to manufacture bicycles. After reviewing the pros and cons of the various forms of business enterprises, they decide to create a limited liability company. To create a limited liability companyO they must file a certificate of organization with the secretary of state and should create an operating agreement, although an operating agreement is not required. O they must file a certificate of organization with the county clerk and should create an operating agreement, although an operating agreement is not required. O they must file an operating agreement with the secretary of state and should create a certificate of organization, although a certificate of organization is not required. they must file a certificate of organization and an operating agreement with the secretary of state
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