Unless otherwise provided in an operating agreement of the company, if a person is a member of a limited liability company that is managed by a manager and if the person is not a manager, the person does not have the fiduciary duty of a manager to the company or to the other members of the company when the person acts solely in the capacity of a member.
AS 10.50.130
Limitation of member fiduciary duty
Known as the Alaska Revised Limited Liability Company Act
The act spans §§ 10–10 (147 sections).
Official source: Alaska State Legislature. Reproduced from public-domain Alaska statutes; confirm against the official source for the current text. Not legal advice.