§ 7-16-14 - Management by members. - Rhode-island Statutes

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SECTION 7-16-14

§ 7-16-14 Management by members. –Unless the articles of organization or a written operating agreement providefor management by or under the authority of one or more managers in accordancewith § 7-16-15, the business and affairs of the limited liability companyshall be managed by the members. If management is vested in the members:

(1) The members are deemed to be managers for purposes ofapplying the provisions of this chapter unless the context clearly requiresotherwise; and

(2) Each of the members has the power and authority and issubject to all duties and liabilities of managers.

State Codes and Statutes

Statutes > Rhode-island > Title-7 > Chapter-7-16 > 7-16-14

SECTION 7-16-14

§ 7-16-14 Management by members. –Unless the articles of organization or a written operating agreement providefor management by or under the authority of one or more managers in accordancewith § 7-16-15, the business and affairs of the limited liability companyshall be managed by the members. If management is vested in the members:

(1) The members are deemed to be managers for purposes ofapplying the provisions of this chapter unless the context clearly requiresotherwise; and

(2) Each of the members has the power and authority and issubject to all duties and liabilities of managers.

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State Codes and Statutes

Statutes > Rhode-island > Title-7 > Chapter-7-16 > 7-16-14

SECTION 7-16-14

§ 7-16-14 Management by members. –Unless the articles of organization or a written operating agreement providefor management by or under the authority of one or more managers in accordancewith § 7-16-15, the business and affairs of the limited liability companyshall be managed by the members. If management is vested in the members:

(1) The members are deemed to be managers for purposes ofapplying the provisions of this chapter unless the context clearly requiresotherwise; and

(2) Each of the members has the power and authority and issubject to all duties and liabilities of managers.