Texas Business Organizations Code - Section 101.302. Number And Qualifications
Legal Research Home >
Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 101.302. Number And Qualifications
§ 101.302. NUMBER AND QUALIFICATIONS. (a) The managers
of a limited liability company may consist of one or more persons.
(b) Except as provided by Subsection (c), the number of
managers of a limited liability company consists of the number of
initial managers listed in the company's certificate of formation.
(c) The number of managers of a limited liability company
may be increased or decreased by amendment to, or as provided by,
the company agreement, except that a decrease in the number of
managers may not shorten the term of an incumbent manager.
(d) A manager of a limited liability company is not required
to be a:
(1) resident of this state; or
(2) member of the company.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 101.207 101.251 101.252 101.253 101.254 101.255 101.301 101.302 101.303 101.304 101.305 101.306 101.307 101.351 101.352
Last modified: August 11, 2007
|
