17-7698. Delegation of rights and powers to manage.
17-7698
17-7698. Delegation of rights and powers to
manage.
Unless otherwise provided in the operating agreement, a
member or manager of
a limited liability company has the power and authority to delegate to one or
more other persons the
member's or manager's, as the case may be, rights and powers to manage and
control the business
and affairs of the limited liability company, including to delegate to agents,
officers and employees
of a member or manager or the limited liability company, and to delegate by a
management
agreement or another agreement with, or otherwise to, other persons. Unless
otherwise provided in
the operating agreement, such delegation by a member or manager of a limited
liability company
shall not cause the member or manager to cease to be a member or manager, as
the case may be, of
the limited liability company.
History: L. 1999, ch. 119, § 37; Jan. 1, 2000.