8941 - Management.
SUBCHAPTER E MANAGEMENT AND MEMBERS Sec. 8941. Management. 8942. Voting. 8943. Duties of managers and members. 8944. Members. 8945. Indemnification. 8946. Transactions by member or manager. 8947. Resignation of manager. 8948. Limitation on dissociation or assignment of membership interest. § 8941. Management. (a) General rule.--Except as provided in subsection (b), management of the business and affairs of a limited liability company shall be vested in its members. (b) Managers.--The certificate of organization may provide that management of a company shall be vested, to the extent provided in the certificate of organization, in one or more managers. (c) Selection and qualifications of managers.--If the certificate of organization provides that management of a company shall be vested in one or more managers, they shall be named in or selected in the manner prescribed by the operating agreement. A manager: (1) Need not be a member of the company or a natural person. (2) Shall serve for a term of one year and until his successor has been elected and qualified or until his earlier death, resignation or removal. (d) Cross reference.--See section 8996(b) (relating to ownership and governance of restricted professional companies). Cross References. Section 8941 is referred to in section 8903 of this title.