The Manager of a Manager-Run LLC Is Protected by the Business

question 34

True/False

The manager of a manager-run LLC is protected by the business judgment rule, but not the fairness rule.

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Definitions:

Central Business District

The commercial and business center of a city, characterized by a concentration of retail and office buildings.

Community's Downtown

A central business district or the main business and commercial area of a town or city where the community often gathers for shopping, entertainment, and social activities.

Oldest Retail Setting

Traditional or ancient marketplaces that historically served as the original venues for commerce and trade.

Main Street

A term often used metaphorically to refer to the typical norms and economic activities of small-town or everyday life in America.