Sec. 101.251. GOVERNING AUTHORITY. 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 will have one or more managers; or
(2) the members of the company, if the company's certificate of formation states that the company will not have managers.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 43, eff. September 1, 2009.
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