Question

1.

In 2014, California amended its limited liability statute to allow that form of business entity to have an existence of unlimited duration.

True

False

2.

Who keeps the minutes of meetings of the directors and shareholders, and other general corporate records such as the lists of stock holders?

	a.	The Vice President
	b.	The Secretary
	c.	The Treasurer
	.	d.The Chairman

Answer 1

In 2014, California amended its limited liability statute to allow that form of business entity to have an existence of unlimited duration.

Answer = FALSE

• California statutes agreed on duration of a limited liability company existence according to its 2014 amendment

Who keeps the minutes of meetings of the directors and shareholders, and other general corporate records such as the lists of stock holders?

Answer = (B) The Secretary

• The secretary maintains minutes of meetings of the directors and shareholders, and other general corporate records