Shrek and donkey form member-managed limited liability

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Reference no: EM133574220

Question

Shrek and Donkey form a member-managed limited liability company, which they name Onion-Parfait Company, LLC (" OPC"), to do land development within a large swamp. They plan to: buy individual parcels of land; build a house on each purchased parcel; and then sell each parcel-with-house to a customer. The relevant LLC statute does not require a written operating agreement, and Shrek and Donkey do not have any written agreement concerning OPC.

Reference no: EM133574220

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