Louisiana Revised Statutes 12:1316 – Voting by managers
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Louisiana Revised Statutes 12:1316
- Articles of organization: means documents filed under 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
Except as otherwise provided in the articles of organization or an operating agreement, if the limited liability company has more than one manager, each manager shall be entitled to a single vote on all matters properly brought before the managers, and all decisions of the managers shall be made by majority vote of the managers. In the absence of such a provision in the articles or operating agreement, no manager shall have the right to vote by proxy.
Acts 1992, No. 780, §2, eff. July 7, 1992; Acts 2014, No. 261, §1.