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Texas Business Organizations Code - BUS ORG § 101.306. Removal and Replacement of Manager Elected by Class or Group

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

(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.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 101.306. Removal and Replacement of Manager Elected by Class or Group - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-101-306/

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