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27 Jan 2023, 10:10 am
In a manager managed LLC, only the managers owe fiduciary duties of loyalty and care to the LLC and members of the LLC. [read post]
27 Jan 2023, 10:10 am
In a manager managed LLC, only the managers owe fiduciary duties of loyalty and care to the LLC and members of the LLC. [read post]
15 Jul 2016, 10:00 am
An LLC can be structured as a manager-managed or member-managed LLC. [read post]
17 Dec 2022, 10:35 am
What level of care in the management and operation of the LLC must a member’s or manager’s care fall below before that member or manager can be personally liable? [read post]
22 Oct 2018, 3:17 am
In practice, and by informal mutual consent, only one of the members actively manages the LLC’s business and financial affairs. [read post]
28 Jun 2021, 3:10 am
Managing members of manager-managed New York LLCs owe default fiduciary duties of loyalty and care to non-managing members. [read post]
5 May 2023, 12:33 pm
Less than 1% of the leveraged ETFs were sold within one day. [read post]
5 Jul 2021, 4:05 pm
A few other well-settled principles that are well-known to readers are still worth reiterating as a sort of refresher: Traditional common law fiduciary duties of loyalty and due care apply to LLC managers–unless unambiguously limited. [read post]
17 Mar 2023, 6:03 am
While an LLC operating agreement is not always required in some states, it is still a good idea to put one in place. [read post]
10 Feb 2020, 6:00 am
Even the choice of a Registered Agent is one that should be considered with care. [read post]
16 Apr 2021, 5:18 am
Senior Care Centers LLC, a Dallas-based skilled nursing provider, reportedly operates and manages more than 100 skilled nursing and assisted/independent living communities in Texas and Louisiana, according to reports. [read post]
29 Sep 2010, 5:00 am
In the realm of limited liability companies, Delaware allows the parties to waive all fiduciary duties by those managing the LLC (members if it is member managed; managers if it is manager managed) except the duty of good faith and fair dealing. [read post]
28 Nov 2018, 3:41 am
Whether you have a fiduciary duty will depend on the LLC’s management structure and whether you have management responsibilities. [read post]
22 Aug 2012, 6:09 am
Carell, CareAll Management LLC, Care All Inc., the James W. [read post]
1 Mar 2012, 3:39 pm
One of the issues in contention was whether, in the absence of any language explicitly addressing the issue, a manager of a Delaware LLC owes fiduciary duties to the company and its members. [read post]
21 Jun 2022, 4:07 am
One benefit of those higher costs is that you have a greater ability to manage the assets in an LLC. [read post]
14 Oct 2019, 6:00 am
Here, the Court of Chancery found the managers’ contractual duty to be a narrow one: act with a good faith belief that their conduct was in or not opposed to the LLC’s best interests. [read post]
18 Jun 2010, 5:28 am
Straus co-founded a Medicare managed care company, Aveta. [read post]
23 May 2023, 9:05 pm
What is a registered agent, and do I need one to file my LLC annual report? [read post]
12 Nov 2012, 2:00 am
Chancellor Strine’s 74-page post-trial opinion (read here) included a lengthy analysis of relevant provisions of the Delaware LLC Act, legislative history and case precedent leading to his broad pronouncement that managers of Delaware LLCs owe traditional, common-law default duties of loyalty and care unless eliminated or modified in the operating agreement. [read post]
