________ is a duty owed by a member of a member-managed LLC and a manager of a manager-managed LLC not to engage in a known violation of law,intentional conduct,reckless conduct,or grossly negligent conduct that injures the LLC.

Question

Quizplus · Accepted Answer

The duty described in the question is the duty of care, which requires LLC members and managers to act in good faith and exercise reasonable care and diligence in managing the LLC's affairs. This includes not engaging in illegal activities or reckless behavior that could harm the LLC. The duty of loyalty (C) concerns a member or manager's obligation to act in the best interests of the LLC and not take actions that benefit themselves at the expense of the LLC. The duties of discharge (A) and restitution (B) are not relevant to the conduct described in the question.

________ Is a Duty Owed by a Member of a Member-Managed