Colo. Rev. Stat. § 7-80-401

Current through Acts effective through 5/29/2024 of the 2024 Legislative Session
Section 7-80-401 - Management of limited liability company
(1) Except as provided in subsection (2) of this section, decisions with respect to a limited liability company shall be made by a majority of the members or, if the limited liability company has one or more managers, by a majority of the managers.
(2) The consent of each member is necessary to:
(a) Amend the articles of organization;
(b) Amend the operating agreement; and
(c) Authorize an act of the limited liability company that is not in the ordinary course of the business of the limited liability company.
(3) A person or persons who will be admitted as a member or members pursuant to section 7-80-701(2) may, by unanimous consent, amend the operating agreement to be effective immediately before the admission of the person or persons.

C.R.S. § 7-80-401

L. 2004: Entire part R&RE, p. 938, § 6, effective July 1. L. 2006: (1) amended and (3) added, p. 857, § 21, effective July 1.

This section is similar to former § 7-80-401 as it existed prior to 2004.