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24 Apr 2024, 12:26 pm
A Manager-Managed LLC is similar to a traditional corporation where the board of directors makes decisions that are then carried out by the company’s senior officers. [read post]
15 Jan 2021, 2:29 pm
It is also possible under an Operating Agreement to simply refer to this person as the “Manager” or under traditional corporate officer titles, should that be how the LLC Operating Agreement is written. [read post]
18 May 2023, 10:47 am
A manager-managed LLC is similar to a traditional corporation where the board of directors makes decisions that are carried out by executives. [read post]
4 Feb 2020, 12:21 pm
It is also possible under an Operating Agreement to simply refer to this person as the “Manager” or under traditional corporate officer titles, should that be how the LLC Operating Agreement is written. [read post]
16 Feb 2022, 8:29 am
It is also possible under an Operating Agreement to simply refer to this person as the “Manager” or under traditional corporate officer titles, should that be how the LLC Operating Agreement is written. [read post]
14 Sep 2018, 1:50 pm
” It is also possible under an Operating Agreement to simply refer to this person as the “Manager” or under traditional corporate officer titles, should that be how the LLC Operating Agreement is written. [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]
28 Apr 2009, 2:38 pm
This decision confirms what many practitioners already suspected: that unless the parties agree otherwise, members and managers of LLCs owe traditional fiduciary duties to the LLC. [read post]
20 Jul 2008, 6:43 pm
Thus, if you are looking for a simple way to enjoy limited liability and you are not too concerned with raising capital or establishing a more traditional management system, the LLC is probably for you. [read post]
8 Nov 2011, 8:08 am
A traditional LLC can be converted to a series LLC at any time. [read post]
12 Nov 2012, 2:00 am
A lawyer who represents the manager side has no less an incentive as he or she did pre-Auriga to include a broad disclaimer of traditional fiduciary duties by including language to the effect that the only duties owed by the manager to the LLC and its members are set forth in the agreement itself. [read post]
24 Sep 2021, 9:48 am
You can also convert a traditional LLC to a Public Benefit LLC. [read post]
30 Jan 2024, 9:26 am
LLC, 84 F.4th 731 (7th Cir. 2023). [read post]
19 Jul 2011, 9:30 am
This email is distributed at no charge to all qualified library and knowledge management professionals. [read post]
1 Mar 2012, 3:39 pm
While the Delaware Limited Liability Company Act does not expressly provide that the traditional fiduciary duties of care and loyalty apply by default to the managers or members of an LLC, the court concluded that such duties are implicit. [read post]
14 Oct 2019, 6:00 am
Under Delaware law, the managers of a limited liability company owe the entity and its members the traditional common law fiduciary duties of care and loyalty. [read post]
27 Apr 2009, 3:56 am
North Carolina on Fiduciary Duty of LLC Managers A manager of a North Carolina LLC does owe a fiduciary duty, as does a manager of a Delaware LLC. [read post]
16 Oct 2023, 11:40 am
The Manager-Managed LLC model is similar to traditional corporations, where a board of directors makes decisions that are then carried out by executives. [read post]
20 Jan 2023, 10:43 am
An LLC may be managed by its members or by one or more appointed managers. [read post]
21 Jun 2010, 8:19 pm
The Court of Chancery revisited the issue in 2010 and reaffirmed its 2009 holding and further held that “. . .controlling members in a manager-managed LLC owe minority members ‘the traditional fiduciary duties’ that controlling shareholders owe minority shareholders. [read post]
