Question

Tuller wants to start a commercial trucking business and also wants to form his own limited liability company (LLC). Tuller, as the only member of the LLC, will make all relevant decisions, contribute all of the investment, and be responsible for all of the risks and rewards. Tuller's proposed LLC will be accepted by:
a, no state, as at least two members are uniformly required to create an LLC
b, a few states
c, a majority of states
d, all states, as no state requires at least two members to create an LLC

Answer 1

Answer:

d, all states, as no state requires at least two members to create an LLC

Explanation:

The requisite of two members to create an LLC was removed from all states in the USA. Now, all states allow a single-member LLC. Massachussets was the last one to eliminate that requisite in 2003.

Maybe this change in laws was because owners cheated on that requisite by placing as the two members (owners) a man and his wife, or a woman and her husband, or some other person (in direct relation with the owner) which was just placing the name but the company actually belonged to only one member.