The governing authority of a limited liability company shall direct the management of the business and affairs of the company and exercise or authorize the exercise of the powers of the company as provided by:

1. (1) the company agreement; and
2. (2) this title and the provisions of Title 1 applicable to a limited liability company to the extent that the company agreement does not provide for the management of the company.

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Acts 2023, 88th Leg., R.S., Ch. 27 (S.B. 1514), Sec. 38, eff. September 1, 2023.