§ 7-16-14 - Management by members.
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.