Question

__________ refer(s) to the written application to the state for permission to form a limited liability company.

1) Novation
2) Estoppel
3) Operating agreement
4) Articles of organization

Answer 1

The correct answer to the student's question is 4) Articles of organization.

Step-by-step explanation:

These documents are crucial when establishing a Limited Liability Company (LLC). The articles of organization serve as a formal application to the state to recognize the company as a legal entity. This process includes providing the name of the LLC, the address of the principal place of business, the duration of the LLC if not perpetual, and the information of the registered agent.

This document also outlines the initial members and how the LLC will be managed. It is important to know that this process varies by state, and it is essential to check the specific requirements within your state of formation.