§ 23–105
Statutes in effect as of October 1, 2026.
Md. Code Ann., Com. Law § 23-105 (2026)
Title 23. Operating Agreements -- Hotels and Retirement Communities
Subtitle 1
§ 23–105LinkCopy Citation
(a)
The covenant of good faith and fair dealing shall be implied in an operating agreement unless the operating agreement states that a party may perform a duty or obligation in the party’s sole discretion.
(b)
Unless an operating agreement contains a covenant or other provision that specifically incorporates a duty into the operating agreement, no duties shall be implied under the operating agreement.