Unless the articles of organization or a written operating agreement provide for management by or under the authority of one or more managers in accordance with § 7-16-15, the business and affairs of the limited liability company shall be managed by the members. If management is vested in the members: (1) The members are deemed to be managers for purposes of applying the provisions of this chapter unless the context clearly requires otherwise; and (2) Each of the members has the power and authority and is subject to all duties and liabilities of managers.
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