AL Bar Practice Questions - Alabama Bar Examination Exam

Access More Questions

A business is organized as a limited liability company under the Alabama Limited Liability Company Act of 2014 (Ala. Code Title 10A). The operating agreement is silent on whether the LLC is member-managed or manager-managed. Under the default rule of the Alabama Act, how is the LLC managed?

It is member-managed by default, with each member having equal management rights It is manager-managed by default Management vests in the member holding the largest capital contribution An LLC cannot be formed in Alabama without specifying its management structure

Correct Answer:

It is member-managed by default, with each member having equal management rights

Access more questions from this quiz

Continue to AL Bar Practice Questions - Alabama Bar Examination Exam for more practice questions and the full quiz experience.

Access More Questions