California Corporations Code

§ 17704.07

CORP § 17704.07 Effective Jan 1, 2016Title 2.6 · Art. 4

Statute text

(a)A limited liability company is a member-managed limited liability company unless the articles of organization contain the statement required by paragraph (5) of subdivision (b) of Section 17702.01.

(b)In a member-managed limited liability company, the following rules apply:

(1)The management and conduct of the limited liability company are vested in the members.

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Legislative history

Amended by Stats. 2015, Ch. 775, Sec. 7. (AB 506) Effective January 1, 2016.