The Manager Does Not Owe a Duty of Loyalty to the LLC

question 53

True/False

The manager does not owe a duty of loyalty to the LLC (limited liability company)as he or she is not a member of the LLC.

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Definitions:

Federalism

A system of government in which power is divided between a central (national) government and various regional governments.

Supreme Executive Power

The ultimate authority vested in an executive head of state or government, responsible for enforcing laws and governing.

Shared Power

The distribution of governmental responsibilities and powers between different branches or levels of government to prevent abuse of authority.

National Policy

A course of action adopted and pursued by a government or political party on national issues.