If an LLC fails to follow formalities such as keeping minutes of meetings, then which of the following is true

If an LLC fails to follow formalities such as keeping minutes of meetings, then which of the following is true?

A. Only the parties responsible for the failure will lose limited liability.

B. Only the managers of a manager-managed LLC will lose limited liability.

C. All members will lose their limited liability.

D. This failure will not result in imposing personal liability on any member.

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LAW531 LAW/531 LAW 531 Final Exam

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If an LLC fails to follow formalities such as keeping minutes of meetings, then which of the following is true

If an LLC fails to follow formalities such as keeping minutes of meetings, then which of the following is true?

A. This failure will not result in imposing personal liability on any member.
B. All members will lose their limited liability.
C. Only the parties responsible for the failure will lose limited liability.
D. Only the managers of a manager-managed LLC will lose limited liability.

LAW531 LAW/531 LAW 531 Final Exam Examination
Download LAW/531 Final Exam (2 Different Exams A+ rated)