Series 22: 1.1.4.2.1. Voting Rights

1.1.4.2.1.  Voting Rights

Each voting member has equal rights to the management and conduct of the LLC, unless the members elect by majority vote specific members or non-members to assume those duties. Managers are elected for a specific term, which may range from a single year to the duration of the company. Managers also may hire various officers to help conduct the company’s day-to-day activities.

Like a limited partnership, managers have authority to conduct all activities and transactions in the normal course of business. Decisions generally require