R.I. Gen. Laws § 7-16-14

Current through 2024 Public Law 457

Section 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.

R.I. Gen. Laws § 7-16-14

P.L. 1992, ch. 280, §1; P.L. 1997 , ch. 188, § 5.