Standard of care to be observed by managers

Managers shall discharge the duties of their respective positions in good faith and with that degree of diligence, care and skill which prudent men would ordinarily exercise under similar circumstances in like position. In discharging their duties, duly authorised members or managers, or officers, as the case may be, when acting in good faith, may rely upon financial statements of the limited liability company represented to them to be correct by the manager of the limited liability company having charge of its books or accounts, or stated in a written report by an independent public or certified 66 public accountant or firm of such accountants fairly to reflect the financial condition of such limited liability company.