Bill Title: Amends the Limited Liability Company Act. Provides that a member of a manager-managed company is held to specified standards of conduct to the extent that the member exercises the managerial authority vested in a manager under the Act (rather than applying such standards to a member who pursuant to the operating agreement exercises some or all of the authority of a manager in the management and conduct of the company's business).

Spectrum: Partisan Bill (Democrat 2-0)

Status: (Engrossed - Dead) 2010-03-24 - Added as Co-Sponsor Sen. Martin A. Sandoval [SB0174 Detail]

Text: Latest bill text (Engrossed) [HTML]

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