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Texas Business Organizations Code - BUS ORG § 101.251. Governing Authority

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The governing authority of a limited liability company consists of:

(1) the managers of the company, if the company agreement provides that the company is managed by one or more managers; or

(2) the members of the company, if the company agreement provides that the company is managed by the members.

(b) If the company agreement does not provide otherwise, the governing authority of a limited liability company consists of:

(1) the managers of the company, if the company's certificate of formation states that the company has managers; or

(2) the members of the company, if the company's certificate of formation does not state that the company has managers.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 101.251. Governing Authority - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-101-251/

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