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.
Source. 2012, 232:2, eff. Jan. 1, 2013.