Use this scenario to answer the questions below. "Starting a business can be confusing and difficult for the entrepreneur.As a paralegal tasked with helping an entrepreneur to form a limited liability corporation paying attention to detail is very important.

Lauren Spess and Cameron Hambricht are two entrepreneurs who want to form a limited liability company called, " In Gym Renew."Spess and Hambricht intend to start a business which recycles old gym shoes turning them into home exercise equipment, such as exercise mats, jump ropes, kettlebells, and medicine and balance balls.The donated gym shoes will be recycled in their Minnesota factory located north of the Twin Cities and products will be sold in a shop in a Minneapolis suburb.After working in recycling for many years, Spess and Hambricht have the know-how to be successful and have already signed a lease for their store."

In order to form a domestic limited liability corporation, one or more persons must execute a Certificate of Organization. A limited Liability Company Certificate is obtained from the Secretary of State. [Minn. Stat.322C.0201, subd. 1 (2019)].

Your project is to:

A.Review the General Laws of Minnesota

https://www.revisor.mn.gov/statutes/Find "Business, Social, and Charitable Organizations"

Locate the "Minnesota Revised Uniform Limited Liability Company"

Read the entire statute and answer the following questions with the above scenario.

1.What are the required contents for articles of organization?Specify the statute.

2.What will be the amount required for the filing fee?

3.What is the procedure for checking business name availability for an LLC?

4.When will the LLC become effective?

5.Under the name availability guidelines, does the name "In Gym Renew" contravene any of those guidelines?If so, which one?Please suggest an alternative that would be in line with the guidelines.

6.List two signing requirements for an LLC.Specify the statute.