Common use of FIDUCIARY RESPONSIBILITIES Clause in Contracts

FIDUCIARY RESPONSIBILITIES. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care. Pursuant to Section 53-19-16 of the Act, a Manager is presumed to act in the best interest of the company, absent evidence of gross negligence or willful misconduct.

FIDUCIARY RESPONSIBILITIES. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care. Pursuant to Section 53-19-16 17704.09 of the Act, a Manager is presumed to act in the best interest of the companyCompany, absent evidence of gross negligence or willful misconduct.

FIDUCIARY RESPONSIBILITIES. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care. Pursuant to Section 5300-1900-16 000 of the Act, a Manager is presumed to act in the best interest of the companyCompany, absent evidence of gross negligence or willful misconduct.

FIDUCIARY RESPONSIBILITIES. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care. Pursuant to Section 53-19-16 605.04091 of the Act, a Manager is presumed to act in good faith if in the best interest performance of managerial duties acts with the companydegree of diligence, absent evidence of gross negligence or willful misconductcare and skill that ordinarily prudent persons would exercise in similar circumstances.

FIDUCIARY RESPONSIBILITIES. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care. Pursuant to Section 53-19-16 63 of the Act, a Manager is presumed to act in the best interest of the companyCompany, absent evidence of gross negligence or willful misconduct.

FIDUCIARY RESPONSIBILITIES. Each Manager and Member shall exercise all powers and perform all duties in good faith and shall act in all matters consistent with the duty of loyalty and the duty of care. Pursuant to Section 53-19-16 1559 of the Act, a Manager is presumed to act in good faith if in the best interest performance of managerial duties acts with the companydegree of diligence, absent evidence of gross negligence or willful misconductcare and skill that ordinarily prudent persons would exercise under similar circumstances in like positions.