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Question
Johnathan LLC has a term of eight years. It had only two partners, Jonathan and John, in its first five years of existence. It was not dissolved when John withdrew from membership in the sixth year. The LLC has continued its business and Johnathan has agreed to pay John, as per the provisions of the RULLCA. Consequently, Johnathan is obligated to pay John the value of his interest within:
A. 120 days after John's dissociation.
B. 90 days after John's dissociation.
C. 120 days after the end of the LLC's term.
D. 90 days after the end of the LLC's term.
Answer
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