2010 Pennsylvania Code
Title 15 - CORPORATIONS AND UNINCORPORATED ASSOCIATIONS
Chapter 89 - Limited Liability Companies
8941 - Management.

                               SUBCHAPTER E
                          MANAGEMENT AND MEMBERS

     Sec.
     8941.  Management.
     8942.  Voting.
     8943.  Duties of managers and members.
     8944.  Members.
     8945.  Indemnification.
     8946.  Transactions by member or manager.
     8947.  Resignation of manager.
     8948.  Limitation on dissociation or assignment of
            membership interest.
     § 8941.  Management.
        (a)  General rule.--Except as provided in subsection (b),
     management of the business and affairs of a limited liability
     company shall be vested in its members.
        (b)  Managers.--The certificate of organization may provide
     that management of a company shall be vested, to the extent
     provided in the certificate of organization, in one or more
     managers.
        (c)  Selection and qualifications of managers.--If the
     certificate of organization provides that management of a
     company shall be vested in one or more managers, they shall be
     named in or selected in the manner prescribed by the operating
     agreement. A manager:
            (1)  Need not be a member of the company or a natural
        person.
            (2)  Shall serve for a term of one year and until his
        successor has been elected and qualified or until his earlier
        death, resignation or removal.
        (d)  Cross reference.--See section 8996(b) (relating to
     ownership and governance of restricted professional companies).

        Cross References.  Section 8941 is referred to in section
     8903 of this title.