What are the differences in whether a limited liability company is member-managed or manager-managed? Does the election of one form of management create a difference in the fiduciary duties of members of a limited liability company? Explain your answer.
Be sure to provide citations for all referenced material. Your initial post should include your decision, your reasons for the decision, and evidence that supports your decision. In a follow-up discussion, provide two reasons for why you would recommend a member-managed or manager-managed LLC to a client and compare your recommendations to those of a classmate. Follow-up discussions to classmates’ initial responses should integrate course theories with a practical application of the subject; offer a personal observation or experience; reference real-world examples, current events; or present current research on the topic that encourages further discussion and ongoing dialogue with other students and the instructor in the class.
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