By Matthew A. Quick Public Act 96-263 considers a member of a Limited Liability Company a fiduciary, thus owing the company fiduciary duties, to the extent the member exercises management authority. This Act becomes effective January 1, 2010.
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By Matthew A. Quick Public Act 96-263 considers a member of a Limited Liability Company a fiduciary, thus owing the company fiduciary duties, to the extent the member exercises management authority. This Act becomes effective January 1, 2010.