(1) Any breach of the member’s or manager’s duty of loyalty to the limited liability company or its members;
(2) Acts or omissions not in good faith which involve intentional misconduct or a knowing violation of law;
(3) Any unlawful distribution under ORS 63.235; or
(4) Any transaction from which the member or manager derives an improper personal benefit. [1993 c.173 §34; 1995 c.93 §7; 1997 c.646 §16; 1999 c.86 §9]
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