1705.30 Relying on information.

In performing the duties to or exercising the authority on behalf of a limited liability company, a member , manager, or officer of a limited liability company is entitled to rely on information, opinions, reports, or statements, including, but not limited to, financial statements and other financial data, that are prepared or presented by any of the following persons:

(A) One or more members, managers, officers, or employees of the company who the member , manager, or officer reasonably believes are reliable and competent in the matters prepared or presented;

(B) Counsel, public accountants, or other persons as to matters that the member , manager, or officer reasonably believes are within the person's professional or expert competence.

Amended by 131st General Assembly File No. TBD, SB 181, §1, eff. 7/6/2016.

Effective Date: 07-01-1994