§ 57C-3-20. Determination of managers; management. - North Carolina Statutes

Part 2. Managers.

§ 57C‑3‑20. Determination of managers; management.

(a)        Unless the articlesof organization provide otherwise, all members by virtue of their status asmembers shall be managers of the limited liability company, together with anyother persons that may be designated as managers in, or in accordance with, thearticles of organization or a written operating agreement. If the articles oforganization provide that all members are not necessarily managers by virtue oftheir status as members, then those persons designated as managers in, or inaccordance with, the articles of organization or a written operating agreementshall be managers, but for any period during which no such designation has beenmade or is in effect, all members shall be managers.

(b)        Except to theextent otherwise provided in the articles of organization or a writtenoperating agreement, management of the affairs of the limited liability companyshall be vested in the managers. Subject to any provisions in the articles oforganization or a written operating agreement or this Chapter restricting,enlarging, or modifying the management rights and duties of any manager ormanagers, or management procedures, each manager shall have equal rights andauthority to participate in the management of the limited liability company,and management decisions shall require the approval, consent, agreement, orratification of a majority of the managers. (1993, c. 354, s. 1; 1999‑189, s. 4.3; 2000‑140,s. 101(t); 2001‑387, s. 67.)