Morty wants to enter into a contract for utilities for the office, but for some reason, Jerry doesn't think utilities are necessary or doesn't like the amount of the projected cost. Summer agrees with Morty. Does Morty have authority to enter into the contract for utilities under the Operating Agreement? Yes. The operating agreement says decisions must be approved by majority of managers, thus voting percentage does not apply and if Morty and Summer both agree, then Morty can enter into the agreement. No. The operating agreement says that the Members holding at least a majority of Voting Interest of the Company is required to approve or carry out an action, and since Morty cannot receive majority vote without Jerry's vote. Both of the options are true. Neither of the options are true. After operating the LLC with Jerry for 6 months, both Morty and Summer decide they do not want to be involved n the LLC. If Jerry does not agree to allow them to leave, which of the following is not an option for Morty and Summer. They can go to court and ask the court to dissolve the LLC. All of the above are potential options for Morty and Summer. hat happens if the business needs additional funds, but Morty doesn't want to contribute any more money? None of the answers are correct as the operating agreement does not contemplate this scenario. If Morty doesn't contribute any additional funds then the business is required to treat it as a reduction in his ownership \%, as the other Members will be contributing more than their pro rata basis. If Morty doesn't contribute any additional funds then the business is required to treat the additional contributions from other members as loans to the company. The LLC Members are required to make additional contributions if the business needs money. Morty wants to enter into a contract for utilities for the office, but for some reason, Jerry doesn't think utilities are necessary or doesn't like the amount of the projected cost. Summer agrees with Morty. Does Morty have authority to enter into the contract for utilities under the Operating Agreement? Yes. The operating agreement says decisions must be approved by majority of managers, thus voting percentage does not apply and if Morty and Summer both agree, then Morty can enter into the agreement. No. The operating agreement says that the Members holding at least a majority of Voting Interest of the Company is required to approve or carry out an action, and since Morty cannot receive majority vote without Jerry's vote. Both of the options are true. Neither of the options are true. After operating the LLC with Jerry for 6 months, both Morty and Summer decide they do not want to be involved n the LLC. If Jerry does not agree to allow them to leave, which of the following is not an option for Morty and Summer. They can go to court and ask the court to dissolve the LLC. All of the above are potential options for Morty and Summer. hat happens if the business needs additional funds, but Morty doesn't want to contribute any more money? None of the answers are correct as the operating agreement does not contemplate this scenario. If Morty doesn't contribute any additional funds then the business is required to treat it as a reduction in his ownership \%, as the other Members will be contributing more than their pro rata basis. If Morty doesn't contribute any additional funds then the business is required to treat the additional contributions from other members as loans to the company. The LLC Members are required to make additional contributions if the business needs money