There is a newer version of the Maryland Code
2013 Maryland Code
COMMERCIAL LAW
§ 23-105 - Implied covenants
MD Comm L Code § 23-105 (2013) What's This?
§23-105.
(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.
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