304-C:109 Business Judgment Rule. –
I. Unless the operating agreement provides otherwise, there shall be a rebuttable presumption that a manager has not breached the manager’s duty of care if, in the matter in question, the manager has acted:
(a) In accordance with contractual good faith;
(b) In a manner the manager reasonably believed to be in the best interest of the limited liability company; and
(c) On the basis of reasonably adequate information.
II. As used in this act, the phrase "
contractual good faith
" means good faith within the meaning of the implied contractual covenant of good faith and fair dealing as partially defined in RSA 304-C:111, II.
Source. 2012, 232:2, eff. Jan. 1, 2013.