Which of the following is true regarding any duty of care owed by members of "member- managed" and "manager-managed" limited liability companies?
A) Members of both "member-managed" limited liability companies and "manager-managed" limited liability companies owe a duty of care not to engage in grossly negligent conduct that would injure their companies.
B) Members of "member-managed" limited liability companies owe a duty of care not to engage in grossly negligent conduct that would injure their companies, but members of manager-managed limited liability companies owe no such duty, so long as the members do not act as managers.
C) Members of "manager-managed" companies owe a duty of care not to engage in grossly negligent conduct that would injure their companies, but members of "member-managed" companies owe no such duty.
D) Neither members of "member-managed" nor "manager-managed" limited liability companies owe a duty of care to their respective companies.
E) Any duty of care owed by members of "member-managed" and "manager-managed" limited liability companies relates to a corresponding duty of loyalty.
Correct Answer:
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