101.608 – GOVERNING AUTHORITY. (a) Notwithstanding any
Texas Business Organizations Code § 101.608
Summary
This law outlines how the governing authority of a protected series or registered series in a limited liability company is determined. It specifies that the authority consists of managers or members as defined in the company agreement, unless stated otherwise in the agreement.
Governing authority defined by company agreement.
Managers or members hold authority in protected series.
Overrides conflicting provisions in the certificate of formation.
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In simple terms: Learn about Texas's GOVERNING AUTHORITY. (a) Notwithstanding any 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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