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Q: If an LLC fails to follow formalities such as keeping minutes of meetings, which of the following is true? A. Only the managers of a manager-managed LLC will lose limited liability. B. All members
will lose their limited liability. C. This failure will not result in imposing personal liability on any member. D. Only the parties responsible for the failure will lose limited liability.
A: B. All members will lose their limited liability.
Expert answered|chico007hgo|Points 370|
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Asked 10/6/2012 3:49:35 PM
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What is concilliation
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Updated 3/3/2014 9:14:08 AM
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Conciliation is an alternative dispute resolution (ADR) process whereby the parties to a dispute use a conciliator, who meets with the parties separately in an attempt to resolve their differences.
Added 3/3/2014 9:14:08 AM
This answer has been confirmed as correct and helpful.
Confirmed by alfred123 [3/3/2014 9:15:33 AM]
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