CT Bar Practice Questions - Connecticut Bar Examination Exam

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A member-managed limited liability company (LLC) has three members. Under default LLC law principles, who manages the ordinary business of the LLC?

A board of directors elected by the members An outside professional manager required by statute Only the member with the largest capital contribution All members, who have equal rights in the management of the business absent contrary agreement

Correct Answer:

All members, who have equal rights in the management of the business absent contrary agreement

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