1. Where there is more than one manager and each of whom is assigned particular responsibilities, each manager shall be liable vis-à-vis the partners only for those acts which fall within his areas of responsibility. Where there is more than one manager and it is stipulated that they perform the management affairs jointly, their resolutions shall only be valid if passed unanimously or by the majority specified in the MOA. However, the MOA may provide that each manager is authorized to individually handle the urgent matters whose postponement would entail a substantial loss for the Company or a loss of considerable profits. 2. Where there is more than one manager and each of whom is not assigned particular responsibilities under the MOA and they have no duty to act jointly, each of them may individually perform any management duties, and, in which case, the other managers shall have the right to object to any action before taken by him it is completed. In such case, the majority votes of the managers shall prevail and in the event of a tie; the matter shall be referred to the partners whose decision shall be final. 3. Co-managers shall exercise the degree of care expected from a prudent person in the course of performing their duties.
Interpretation and application must be checked against the official text and current version.