Managers of an LLC Have the Same Fiduciary Duties to the Entity

question 42

True/False

Managers of an LLC have the same fiduciary duties to the entity as corporate officers have to a corporation.

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Definitions:

Highway Tractor

A type of heavy-duty vehicle designed primarily for hauling trailers over long distances on highways.

Tandem Drive

Tandem drive refers to a vehicle configuration where two sets of drive axles are arranged in a row, commonly seen in heavy-duty trucks, to distribute weight and increase traction.

Axles

Mechanical components that connect wheels on opposite sides of a vehicle, transferring power from the drivetrain to the wheels for movement.

Freight Volume

The amount of goods, cargo, or freight being transported or capable of being transported.