Louisiana Revised Statutes 12:1313 – Election and removal of managers
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Terms Used In Louisiana Revised Statutes 12:1313
- Articles of organization: means documents filed under La. See Louisiana Revised Statutes 12:1301
- managers: means a person or persons designated by the members of a limited liability company to manage the limited liability company as provided in its articles of organization. See Louisiana Revised Statutes 12:1301
- Operating agreement: means any agreement, written or oral, of the members as to, or in the case of a limited liability company having a single member, any written agreement between the member and the company memorializing the affairs of a limited liability company and the conduct of its business. See Louisiana Revised Statutes 12:1301
If management is vested in one or more managers pursuant to La. Rev. Stat. 12:1312, then, unless otherwise provided in the articles of organization or an operating agreement:
(1) Election of managers to fill initial positions or vacancies shall be by plurality vote of the members.
(2) Any or all managers may be removed by a vote of a majority of the members, with or without cause, at a meeting called expressly for that purpose.
Acts 1992, No. 780, §2, eff. July 7, 1992.