The owners of an LLC are called shareholders Which of the following is not a characteristic of a limited liability company? a. An assignment in an LLC is personal property and is assignable.
An assignment in an LLC is personal property and is assignable. b. An LLC dissolves upon the death of a member. c. The owners of an LLC are called shareholders. d. The LLC holds property in its own name.
By law neither the owners (members) nor the managers of an LLC are personally liable for any of its debts. This is the major advantage of the corporate form. Nice work! You just studied 82 terms! Now up your study game with Learn mode.
The articles must be written in English and must be signed by at least one person, who need not be a member or manager. (2) the PURPOSES for which the LLC is formed or that its purpose is to engage in any lawful activity for which LLCs may be formed.