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Texas Business Organizations Code - Section 101.306. Removal And Replacement Of Manager Elected By Class Or Group

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 101.306. Removal And Replacement Of Manager Elected By Class Or Group

§ 101.306. REMOVAL AND REPLACEMENT OF MANAGER ELECTED BY 
CLASS OR GROUP.  (a) If a class or group of the members of a limited 
liability company is entitled by the company agreement of the 
company to elect one or more managers of the company, a manager may 
be removed from office only by the class or group that elected the 
manager.
	(b)  A vacancy in the position of a manager elected as 
provided by Subsection (a) may be filled only by:
		(1)  a majority vote of the managers serving on the date 
the vacancy occurs who were elected by the class or group of 
members;  or
		(2)  a majority vote of the members of the class or 
group.                  

Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.                     

Last modified: August 11, 2007