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0 tracked cards Business Associations

A member-managed LLC operates a small landscaping business. One member signs a routine contract to buy mulch for current jobs.
Which statement best describes the member's authority?

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In a member-managed LLC, only passive investors can bind the LLC. In a member-managed LLC, each member generally has authority to bind the LLC for acts apparently carrying on the LLC's ordinary activities, unless the third party knows of a limitation. In a member-managed LLC, members bind the LLC only after a court appoints them as agents. In a member-managed LLC, a member's authority depends solely on whether the LLC later makes a profit.

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