State Codes and Statutes
Statutes > Maryland > Commercial-law > Title-23 > 23-105§ 23-105. Implied covenants.
(a) Good faith and fair dealing.- The covenant of good faith and fair dealing shall be implied in an operating agreement unless the operating agreement states that a party may perform a duty or obligation in the party's sole discretion.
(b) Implied duties.- Unless an operating agreement contains a covenant or other provision that specifically incorporates a duty into the operating agreement, no duties shall be implied under the operating agreement.
[2004, ch. 292.]
