Rhode Island § 7-16-14 § 7-16-14. Management by members.

Rhode Island Statutes

§ 7-16-14 — § 7-16-14. Management by members.

Rhode Island·Title 7 Corporations, Associations and Partnerships·Ch. 7-16 The Rhode Island Limited Liability Company Act

§ 7-16-14. Management by members.
Unless the articles of organization or a written operating agreement provide for management
            by or under the authority of one or more managers in accordance with § 7-16-15, the business and affairs of the limited liability company shall be managed by the
            members. If management is vested in the members:
         
(1) The members are deemed to be managers for purposes of applying the provisions of this
            chapter unless the context clearly requires otherwise; and
         
(2) Each of the members has the power and authority and is subject to all duties and liabilities
            

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§ 7-16-14. Management by members.

Unless the articles of organization or a written operating agreement provide for management by or under the authority of one or more managers in accordance with § 7-16-15, the business and affairs of the limited liability company shall be managed by the members. If management is vested in the members:

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

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

Rhode Island § 7-16-14 (§ 7-16-14. Management by members.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.