Texas Business Organizations Code 101.306 – Removal and Replacement of Manager Elected by Class or Group
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(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.
Terms Used In Texas Business Organizations Code 101.306
- 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