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Non-Managing LLC Members Owe No Fiduciary Duty to the LLC or Other Members
By Jeffrey M. Haber In this Blog’s last entry, we discussed the advantages and disadvantages of forming a limited liability company (“LLC”). Today’s entry discusses whether non-managing members of a manager-managed LLC owe fiduciary duties to the other LLC members and to the LLC itself. An LLC is a hybrid business entity having the attributes of both a corporation and a partnership. E.g., Willoughby Rehabilitation & Health Care Ctr., LLC v. Webster, 2006 NY Slip Op. 52067(U)

Jeffrey Haber
Feb 17, 20176 min read
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