Which of the Following Statements Is True Regarding a Manager-Managed

question 42

Multiple Choice

Which of the following statements is true regarding a manager-managed LLC?

• A) A member of a manager-managed LLC who is not a manager still owes a fiduciary duty of loyalty to the LLC.
• B) A member of a manager-managed LLC who is not a manager still owes a fiduciary duty of care to the LLC.
• C) A member of a manager-managed LLC who is not a manager still owes both a fiduciary duty of loyalty and a fiduciary duty of care to the LLC.
• D) A member of a manager-managed LLC who is not a manager owes a fiduciary duty of care, but not a fiduciary duty of loyalty, to the LLC.
• E) A member of a manager-managed LLC who is not a manager owes no fiduciary duty of loyalty or care to the LLC.

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