Source: https://chowinslaw.com/resources/texas-business-laws/314-management-of-texas-limited-liability-companies
Timestamp: 2019-04-23 04:06:02+00:00

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(2) the members of the company, if the company's certificate of formation states that the company will not have managers.
§ 101.252. MANAGEMENT BY GOVERNING AUTHORITY.
(2) this title and the provisions of Title 1 applicable to a limited liability company to the extent that the company agreement does not provide for the management of the company.
§ 101.253. DESIGNATION OF COMMITTEES; DELEGATION OF AUTHORITY.
(2) subject to any limitation imposed by the governing authority, a governing person to serve as an alternate member of a committee designated under Subdivision (1) at a committee meeting from which a member of the committee is absent or disqualified.
(b) A committee of the governing authority of a limited liability company may exercise the authority of the governing authority as provided by the resolution designating the committee.
(c) The designation of a committee under this § does not relieve the governing authority of any responsibility imposed by law.
§ 101.254. DESIGNATION OF AGENTS; BINDING ACTS.
(a) Except as provided by this title and Title 1, each governing person of a limited liability company and each officer of a limited liability company vested with actual or apparent authority by the governing authority of the company is an agent of the company for purposes of carrying out the company's business.
(2) the person with whom the agent is dealing has knowledge of the agent's lack of actual authority.
(c) An act committed by an agent of a limited liability company described by Subsection (a) that is not apparently for carrying out the ordinary course of business of the company binds the company only if the act is authorized in accordance with this title.
§ 101.255. CONTRACTS OR TRANSACTIONS INVOLVING INTERESTED GOVERNING PERSONS OR OFFICERS.
(B) has a financial interest.
(2) the contract or transaction is fair to the company when the contract or transaction is authorized, approved, or ratified by the governing authority, a committee of the governing authority, or the members of the company.
(c) Common or interested governing persons of a limited liability company may be included in determining the presence of a quorum at a meeting of the company's governing authority or of a committee of the governing authority that authorizes the contract or transaction.
(2) sign, in the person's capacity as a governing person or committee member, a written consent of the governing persons or committee members to authorize the contract or transaction.
(e) If at least one of the conditions of Subsection (b) is satisfied, neither the company nor any of the company's members will have a cause of action against any of the persons described by Subsection (a) for breach of duty with respect to the making, authorization, or performance of the contract or transaction because the person had the relationship or interest described by Subsection (a) or took any of the actions authorized by Subsection (d).
§ 101.301. APPLICABILITY OF SUBCHAPTER.
This subchapter applies only to a limited liability company that has one or more managers.
§ 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.
(2) member of the company.
(2) until the earlier resignation, removal, or death of the manager.
Subject to § 101.306(a), a manager of a limited liability company may be removed, with or without cause, at a meeting of the company's members called for that purpose.
(2) the members at a meeting of the company's members called for that purpose.
(b) A person elected to fill a vacancy in the position of a manager serves for the unexpired term, if any, of the person's predecessor.
§ 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.
(2) a majority vote of the members of the class or group.
§ 101.307. METHODS OF CLASSIFYING MANAGERS.
Other methods of classifying managers of a limited liability company, including providing for managers who serve for staggered terms of office or terms that are not uniform, may be established in the company agreement.

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