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Business Judgment Rule › Limited Liability Company (LLC) › Operating Agreements

Paul Hastings LLP

Nevada Court Finds Business Judgment Rule Applies to Nevada LLCs

Paul Hastings LLP on

The Nevada District Court recently clarified that the business judgment rule — a fundamental corporate law protection — applies to limited liability companies when their operating agreements specify fiduciary duties. The...more

Patton Sullivan Brodehl LLP

The “Business Judgment Rule” Applies in LLCs Too

Patton Sullivan Brodehl LLP on

Corporate directors have long relied on the “business judgment rule,” under which their decisions are presumed to have been made “on an informed basis, in good faith, and in the honest belief that the action taken was in the...more

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