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Colorado Revised Statutes Title 7. Corporations and Associations § 7-80-401. Management of limited liability company

Current as of January 01, 2025 | Updated by Findlaw Staff

(1) Except as provided in subsection (2) of this section, decisions with respect to a limited liability company shall be made by a majority of the members or, if the limited liability company has one or more managers, by a majority of the managers.

(2) The consent of each member is necessary to:

(a) Amend the articles of organization;

(b) Amend the operating agreement; and

(c) Authorize an act of the limited liability company that is not in the ordinary course of the business of the limited liability company.

(3) A person or persons who will be admitted as a member or members pursuant to section 7-80-701(2) may, by unanimous consent, amend the operating agreement to be effective immediately before the admission of the person or persons.

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Cite this article: FindLaw.com - Colorado Revised Statutes Title 7. Corporations and Associations § 7-80-401. Management of limited liability company - last updated January 01, 2025 | https://codes.findlaw.com/co/title-7-corporations-and-associations/co-rev-st-sect-7-80-401/

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