§ 304-c-113

304-C:113 Defense of Reliance on Certain Limited Liability Company Information and Opinions, Etc. – I. In any matter relating to the limited liability company, a manager of a limited liability company shall be fully protected from personal liability in relying, in accordance with contractual good faith, upon information, opinions, reports or statements presented to the limited liability company: (a) By any of its other managers, members, officers, employees, or committees of the limited liability company; or (b) By any other person if the manager reasonably believes the matters in question are within the other person's professional or expert competence. II. The information covered by paragraph I shall include information, opinions, reports, or statements as to the value and amount of the assets, liabilities, profits, or losses of the limited liability company and as to any other facts pertinent to the existence and amount of assets from which distributions to members might properly be paid. Source. 2012, 232:2, eff. Jan. 1, 2013.