Texas Business Organizations Code 101.303 – Term
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Terms Used In Texas Business Organizations Code 101.303
- 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
A manager of a limited liability company serves:
(1) for the term, if any, for which the manager is elected and until the manager’s successor is elected; or
(2) until the earlier resignation, removal, or death of the manager.