101.302 – NUMBER AND QUALIFICATIONS. (a) The managers of
Texas Business Organizations Code § 101.302
Summary
This law outlines the structure and qualifications for managers of a limited liability company in Texas. It allows for flexibility in the number of managers, which can be adjusted through the company's certificate of formation or company agreement.
Managers can be one or more individuals.
Initial number of managers is stated in the formation certificate.
Number of managers can be changed by amendment or company agreement.
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In simple terms: Learn about Texas's NUMBER AND QUALIFICATIONS. (a) The managers of law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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