101.306 – REMOVAL AND REPLACEMENT OF MANAGER ELECTED BY
Texas Business Organizations Code § 101.306
Summary
This law outlines the process for removing and replacing a manager elected by a specific class or group of members in a limited liability company. Only the class or group that elected the manager can remove them, and vacancies must be filled by a majority vote of the remaining managers.
Only the electing class or group can remove a manager.
Vacancies must be filled by majority vote of current managers.
Applies specifically to limited liability companies.
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In simple terms: Learn about Texas's REMOVAL AND REPLACEMENT OF MANAGER ELECTED BY 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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