Matter in bold in an amended section is new. Matter that is struck through is existing law to be omitted.
New sections are in bold .
The following summary is not prepared by the sponsors of the measure and is not a part of the body thereof subject to consideration by the Legislative Assembly. It is an editor's brief statement of the essential features of the measure as introduced. Prescribes applicability provisions. Modifies filing requirements of articles of organization for limited liability companies managed by manager. A member's duty of care to a member-managed limited liability company and the other members in the conduct and winding up of the business of the limited liability company is limited to refraining from engaging in grossly negligent or reckless conduct, intentional misconduct or a knowing violation of law.