(1) A manager and the board of managers are considered to be a director and the board of directors, respectively;
(2) If there is not a board of managers, a participant is considered to be a director and all of the participants are considered to be the board of directors;
(3) A participant or participant-transferee is considered to be a shareholder;
(4) A participation share is considered to be a share of stock; and
(5) A distribution is considered to be a dividend.
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