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C.R.S. § 7-80-401

Management of limited liability company

Known as the Colorado Limited Liability Company Act

The act spans §§ 7-80-101 to 7-80-902 (57 sections).

(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.

Digitized from: Public.Law — Colorado Revised Statutes. Reproduced from public-domain Colorado statutes; confirm against the official source for the current text. Not legal advice.