Section 304-C:106 - Application to Certain Members of Fiduciary Duties Applicable to Managers Unless the operating agreement provides otherwise, the duties imposed on managers of limited liability companies under this subdivision shall apply also to:
I. Members of member-managed multi-member limited liability companies; and II. Non-manager members of manager-managed multi-member limited liability companies to the extent that these non-manager members exercise management functions for these limited liability companies.Entire chapter added by 2012, 232:2, eff. 1/1/2013. 2012, 232:2, eff. Jan. 1, 2013.