(a) Except as otherwise provided in the company's articles of organization, the members of a limited liability company manage the affairs and make the decisions of the company. Management by the members is subject to a provision in an operating agreement or this chapter limiting or increasing the management rights and duties of the members, including limits or increases placed on a class of members or an individual member.
(b) If a limited liability company is managed by a manager, the manager has the exclusive power to manage the affairs of the company to the extent authorized by the operating agreement.
Section: 10.50.110 10.50.115 10.50.120 10.50.125 10.50.130 10.50.135 10.50.140 10.50.145 10.50.148 10.50.150 NextLast modified: November 15, 2016