Tex. Business Organizations Code § 101.251
This is the official text of Tex. Business Organizations Code § 101.251, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 101.251. GOVERNING AUTHORITY.
Official statutory text
(a) The governing authority of a limited liability company consists of:
(1) the managers of the company, if the company agreement provides that the company is managed by one or more managers; or
(2) the members of the company, if the company agreement provides that the company is managed by the members.
(b) If the company agreement does not provide otherwise, the governing authority of a limited liability company consists of:
(1) the managers of the company, if the company's certificate of formation states that the company has managers; or
(2) the members of the company, if the company's certificate of formation does not state that the company has managers.
(1) the managers of the company, if the company agreement provides that the company is managed by one or more managers; or
(2) the members of the company, if the company agreement provides that the company is managed by the members.
(b) If the company agreement does not provide otherwise, the governing authority of a limited liability company consists of:
(1) the managers of the company, if the company's certificate of formation states that the company has managers; or
(2) the members of the company, if the company's certificate of formation does not state that the company has managers.
Status: in_force · Read it on the official government site
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