Nev. Rev. Stat. § 86.298

Current through 82nd (2023) Legislative Session Chapter 535 and 34th (2023) Special Session Chapter 1 and 35th (2023) Special Session Chapter 1

Section 86.298 - Duties of manager or managing member

The duties of a manager or managing member of a limited-liability company to the limited-liability company, to any series of the limited-liability company, to any member or to another person that is a party to or otherwise bound by the operating agreement are only:

1. The implied contractual covenant of good faith and fair dealing; and

2. Such other duties, including, without limitation, fiduciary duties, if any, as are expressly prescribed by the articles of organization or the operating agreement.

NRS 86.298

Added to NRS by 2019, 104

Added by 2019, Ch. 19,§20, eff. 10/1/2019.

See 2019, Ch. 19, §31.