§1556. Activities and affairs of limited liability company








1. Direction; oversight of members.  
The activities and affairs of a limited liability company are under the direction,
and subject to the oversight, of its members.


[
2009, c. 629, Pt. A, §2 (NEW);
2009, c. 629, Pt. A, §3 (AFF)
.]








2. Majority of members.  
A matter in the ordinary course of activities of a limited liability company may be
decided by a majority of the members.


[
2009, c. 629, Pt. A, §2 (NEW);
2009, c. 629, Pt. A, §3 (AFF)
.]








3. All members.  
The consent of all members of a limited liability company is required to:





A. Approve a merger or conversion under subchapter 12; [2009, c. 629, Pt. A, §2 (NEW); 2009, c. 629, Pt. A, §3 (AFF).]











B. Amend the limited liability company agreement; [2009, c. 629, Pt. A, §2 (NEW); 2009, c. 629, Pt. A, §3 (AFF).]











C. Undertake any other act outside the ordinary course of the limited liability company's
activities; or [2009, c. 629, Pt. A, §2 (NEW); 2009, c. 629, Pt. A, §3 (AFF).]











D. Undertake, authorize or approve any other act or matter for which this chapter requires
the consent of all members. [2009, c. 629, Pt. A, §2 (NEW); 2009, c. 629, Pt. A, §3 (AFF).]








[
2009, c. 629, Pt. A, §2 (NEW);
2009, c. 629, Pt. A, §3 (AFF)
.]








4. Without meeting; agent.  
Any matter requiring the consent of the members of a limited liability company may
be decided without a meeting, and a member may appoint a proxy or other agent to consent
or otherwise act for the member by signing an appointing record, personally or by
the member's agent.


[
2009, c. 629, Pt. A, §2 (NEW);
2009, c. 629, Pt. A, §3 (AFF)
.]








5. After dissolution, majority of members.  
After dissolution, a matter in the ordinary course of winding up the activities of
a limited liability company may be decided by a majority of the members.


[
2009, c. 629, Pt. A, §2 (NEW);
2009, c. 629, Pt. A, §3 (AFF)
.]








6. No entitlement to remuneration.  
This chapter does not entitle a member to remuneration for services performed for
a limited liability company.


[
2009, c. 629, Pt. A, §2 (NEW);
2009, c. 629, Pt. A, §3 (AFF)
.]





SECTION HISTORY

2009, c. 629, Pt. A, §2 (NEW).
2009, c. 629, Pt. A, §3 (AFF).