304-C:111 Implied Contractual Covenant of Good Faith and Fair Dealing. –
I. Managers shall comply with the implied contractual covenant of good faith and fair dealing.
II. The implied contractual covenant of good faith and fair dealing shall include a duty to use reasonable efforts to meet the reasonable expectations of the limited liability company and of the members on matters within the scope of the operating agreement but not specifically addressed in it.
Source. 2012, 232:2, eff. Jan. 1, 2013.