48-240-101 - Member-managed.
48-240-101. Member-managed.
If the LLC has elected to be member-managed, any actions that would require the action of the board of governors shall be made by the members. Unless chapters 201-248 of this title, the articles or operating agreement require otherwise, decisions shall be made and actions taken by a majority vote of the members acting in their capacity as members present at a meeting at which a quorum is established.
[Acts 1994, ch. 868, § 1; 1995, ch. 403, § 60.]