Your uncle has a company that he operates with two friends. They have an operating agreement that governs how they do business together and they have registered their company with the state. The profits from their business flow through to the three managers. Their business entity permits their company to have non$-$operating members. You invest $$5,000$ in the company and become a non$-$operating member. Unfortunately, $18$ months later the business has catastrophic losses through no fault of the managers and fails. There are unpaid debts of approximately $$250,000.$

a$.$ What kind of entity does the foregoing describe?

b$.$ What is your total liability?