Colorado Nursing Home Administrators (NHA) Practice Exam

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When is it considered a change of ownership for an LLC?

Change in management team
Transfer of 25% ownership interest
Termination or dissolution of company with transfer of at least 50% ownership
Addition of new members

The correct answer is: Change in management team

A change of ownership for an LLC occurs when there is a transfer of at least 50% ownership, termination or dissolution of the company with a transfer of at least 50% ownership, or when new members are added to the ownership structure. In this situation, change in management team is not considered a change of ownership as it does not involve a transfer of ownership interest. Additionally, a transfer of only 25% ownership interest would not meet the requirement for a change of ownership. Therefore, the correct answer is A, a change in management team.