- (a) The managers of a limited liability company may consist of one or more persons.
- (b) Except as provided by Subsection (c), the number of managers of a limited liability company consists of the number of initial managers listed in the company's certificate of formation.
- (c) The number of managers of a limited liability company may be increased or decreased by amendment to, or as provided by, the company agreement, except that a decrease in the number of managers may not shorten the term of an incumbent manager.
(d) A manager of a limited liability company is not required to be a:
- (1) resident of this state; or
- (2) member of the company.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.