2020 Colorado Revised Statutes
Title 7 - Corporations And Associations
Article 80. Limited Liability Companies
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:
Amend the articles of organization;
Amend the operating agreement; and
Authorize an act of the limited liability company that is not in the ordinary course ofthe 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.
Source: 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.
Editor's note: This section is similar to former § 7-80-401 as it existed prior to 2004.
