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]

---

Sponsors

Name	Type	Sponsorship	District	Financial	Encyclopedia	Biography
Senator Don Harmon [D]	Sponsor	Sponsored Bills	SD-039	FollowTheMoney	Ballotpedia	VoteSmart
Senator Martin Sandoval [D]	Sponsor	Sponsored Bills	SD-011	FollowTheMoney	Ballotpedia	VoteSmart

Social Comments on IL SB0174