Alabama Real Estate Practice Exam 2025 – All-in-One Guide to Master Your Real Estate License!

Question: 1 / 400

Who may have a managing member in an LLC?

Corporations only

Partnerships only

LLC only

A managing member in an LLC is responsible for the day-to-day operations and decision-making of the company. This person has a significant amount of authority and control within the LLC. Options A, B, and D are incorrect because they do not have the same business structure as an LLC. Corporations have a board of directors and executives, partnerships have multiple partners who share decision-making, and joint ventures are temporary partnerships formed for a specific project. Only an LLC has a managing member who holds a leadership role within the company.

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Joint ventures only

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