The Florida Senate

608.422  Management of limited liability company.--The management of the limited liability company, unless otherwise provided in the articles of organization or the regulations, shall be vested in its members in proportion to their contributions to the capital of the limited liability company, as adjusted from time to time to properly reflect any additional contributions or withdrawals by the members; however, if the articles of organization provide for the management of the limited liability company by a manager or managers, the management of the limited liability company may be vested in a manager or managers who shall be elected annually by the members in the manner prescribed by and provided in the articles of organization or the regulations of the limited liability company. The manager or managers shall also hold the offices and have the responsibilities accorded to them by the members and set out in the articles of organization or the regulations of the limited liability company.

History.--s. 2, ch. 82-177; s. 22, ch. 93-284.