Texas § 101.306 REMOVAL AND REPLACEMENT OF MANAGER ELECTED BY CLASS OR GROUP.

Texas Statutes

§ 101.306 — REMOVAL AND REPLACEMENT OF MANAGER ELECTED BY CLASS OR GROUP.

Texas·Code BO Business Organizations Code

Sec. 101.306. REMOVAL AND REPLACEMENT OF MANAGER ELECTED BY CLASS OR GROUP.

(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.

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Sec. 101.306. REMOVAL AND REPLACEMENT OF MANAGER ELECTED BY CLASS OR GROUP. (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.

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