Texas Business Organizations Code 101.305 – Manager Vacancy
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(a) Subject to § 101.306(b), a vacancy in the position of a manager of a limited liability company may be filled by:
(1) the affirmative vote of the majority of the remaining managers of the company, without regard to whether the remaining managers constitute a quorum; or
(2) the members at a meeting of the company’s members called for that purpose.
(b) A person elected to fill a vacancy in the position of a manager serves for the unexpired term, if any, of the person’s predecessor.
Terms Used In Texas Business Organizations Code 101.305
- Limited liability company: means an entity governed as a limited liability company under Title 3 or 7. See Texas Business Organizations Code 1.002
- Manager: means a person designated as a manager of a limited liability company that is not managed by members of the company. See Texas Business Organizations Code 1.002
- Person: means an individual or a corporation, partnership, limited liability company, business trust, trust, association, or other organization, estate, government or governmental subdivision or agency, or other legal entity, or a protected series or registered series of a domestic limited liability company or foreign entity. See Texas Business Organizations Code 1.002
- Quorum: The number of legislators that must be present to do business.