Section 17-7696 - Remedies for breach of operating agreement by managerAn operating agreement may provide that:
(a) A manager who fails to perform in accordance with, or to comply with the terms and conditions of, the operating agreement shall be subject to specified penalties or specified consequences; and(b) at the time or upon the happening of events specified in the operating agreement, a manager shall be subject to specified penalties or specified consequences. L. 1999, ch. 119, § 35; 1/1/2000.