On January 27, 2012, the Delaware Chancery Court issued a 75-page opinion explaining how fiduciary duties are owed by a manager to an LLC’s members absent an expressed limitation or elimination in the operating agreement.

U.S. News Media Group and Best Lawyers® have released the 2011-2012 “Best Law Firms” rankings, and once again Dickinson, Mackaman, Tyler & Hagen, P.C. is well represented in the rankings for the Des Moines metropolitan area, having received Tier 1 rankings in 19 areas of law.

Twelve attorneys from Dickinson, Mackaman, Tyler & Hagen, P.C. were selected by their legal industry peers for inclusion in 15 areas of law in the recently-released 2012 edition of The Best Lawyers in America® (Copyright 2011 by Woodward/White, Inc., of Aiken, S.C.).

Dickinson attorney Marc Ward was appointed to serve a one-year term as chair of the Iowa State Bar Association’s Business Law Section Council. His term will run through the end of June 2012.

Risk Management Services, LLC v. Moss provides an interesting lesson on the importance of covering all elements of an LLC’s existence within the operating agreement, including the expulsion or termination of a fellow member.