LLC manager and LLC member Research Paper Example | Topics and Well Written Essays - 250 words

LLC manager and LLC member - Research Paper Example If a LLC is managed by a manager the decision making responsibility falls in the hand of the individual who has been elected by the members as a manager. The members can choose a manager from within the group of the members of the company or they can even opt for an individual who is not a member of the company. Individuals who are elected as managers for an LLC are responsible to act and make decisions carefully and present utmost loyalty, these duties of a manager of LLC are recognized as fiduciary duties and these duties are similar to the duties that are performed by corporate directors. Members within an LLC can determine the voting policy and the voting rights of the members of the company, according to ULLCA, the voting rights of the members is dependant on their investment in the company and voting policy states that a decision can be made with the aid of the majority votes (Batman, 2011,