The KERI Foundation is a multi-member-manager-managed L3C.
An L3C is a special version of an LLC
but for our means here, the terms can be used interchangeably
The members of the L3C are the shareholders. In a multi-member llc manager-managed Operating Agreement, the managers are doing the work.
The shareholders (members) can only appoint the managers. The rest is the responsibility of the managers.
multi-member llc, manager-managed
= is the same as =
manager-managed multi-member llc
the combined terms can be used in a different order, but not be pulled apart