Illinois Statutes
§ 15-15 — Discharge of duties; consideration
Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 805 BUSINESS ORGANIZATIONS·Act 805 ILCS 180/ Limited Liability Company Act.·Art. Article 15 - Management
In discharging the duties of their respective positions, members and individual managers may, in considering the best long term and short term interests of the limited liability company, consider the effects of any action (including without limitation, action that may involve or relate to a change or potential change in control of the limited liability company) upon employees, suppliers, and customers of the limited liability company or its subsidiaries, communities in which offices or other establishments of the limited liability company or its subsidiaries are located, and all other pertinent factors.
Free access — add to your briefcase to read the full text and ask questions with AI
Illinois § 15-15 (Discharge of duties; consideration) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Source: P.A. 87-1062.)
Nearby Sections
15
§ 15
§ 15§ 15-10
(Repealed)§ 15-20
Actions by members§ 15-5
Operating agreement§ 15-7
§ 15-7§ 15.05
§ 15.05§ 15.1
§ 15.1§ 15.10
Fees for filing documents§ 15.12
Disposition of fees§ 15.15
Miscellaneous charges§ 15.2
§ 15.2