State Codes and Statutes

Statutes > New-york > Llc > Article-4 > 419

§   419.   Classes  and  voting  of  managers.  (a)  The  articles  of  organization of a limited liability company may provide for  classes  or  groups  of managers having such relative rights, powers, preferences and  limitations as the operating agreement  may  provide.  The  articles  of  organization  may  make provision for the future creation, in the manner  provided in the operating agreement, of additional classes  of  managers  having  such relative rights, powers, preferences and limitations as may  from time to time be established pursuant to  the  operating  agreement,  including  rights, powers, preferences, limitations and duties senior to  existing classes of managers. The operating agreement  may  provide  for  the  classification  of  managers  within  classes  of  managers for the  purpose of determining the terms of office  of  such  managers  and  may  grant  to  all  or  to one or more classes of managers the right to vote  upon any matter on a per capita, class or other basis.    (b) The operating agreement  may  set  forth  provisions  relating  to  notice  of the time, place or purpose of any meeting at which any matter  is to be voted on by any managers, waiver of any such notice, action  by  consent  without  a  meeting, the establishment of a record date, quorum  requirements, voting in person or by proxy  or  any  other  matter  with  respect to the exercise of any such right to vote.

State Codes and Statutes

Statutes > New-york > Llc > Article-4 > 419

§   419.   Classes  and  voting  of  managers.  (a)  The  articles  of  organization of a limited liability company may provide for  classes  or  groups  of managers having such relative rights, powers, preferences and  limitations as the operating agreement  may  provide.  The  articles  of  organization  may  make provision for the future creation, in the manner  provided in the operating agreement, of additional classes  of  managers  having  such relative rights, powers, preferences and limitations as may  from time to time be established pursuant to  the  operating  agreement,  including  rights, powers, preferences, limitations and duties senior to  existing classes of managers. The operating agreement  may  provide  for  the  classification  of  managers  within  classes  of  managers for the  purpose of determining the terms of office  of  such  managers  and  may  grant  to  all  or  to one or more classes of managers the right to vote  upon any matter on a per capita, class or other basis.    (b) The operating agreement  may  set  forth  provisions  relating  to  notice  of the time, place or purpose of any meeting at which any matter  is to be voted on by any managers, waiver of any such notice, action  by  consent  without  a  meeting, the establishment of a record date, quorum  requirements, voting in person or by proxy  or  any  other  matter  with  respect to the exercise of any such right to vote.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Llc > Article-4 > 419

§   419.   Classes  and  voting  of  managers.  (a)  The  articles  of  organization of a limited liability company may provide for  classes  or  groups  of managers having such relative rights, powers, preferences and  limitations as the operating agreement  may  provide.  The  articles  of  organization  may  make provision for the future creation, in the manner  provided in the operating agreement, of additional classes  of  managers  having  such relative rights, powers, preferences and limitations as may  from time to time be established pursuant to  the  operating  agreement,  including  rights, powers, preferences, limitations and duties senior to  existing classes of managers. The operating agreement  may  provide  for  the  classification  of  managers  within  classes  of  managers for the  purpose of determining the terms of office  of  such  managers  and  may  grant  to  all  or  to one or more classes of managers the right to vote  upon any matter on a per capita, class or other basis.    (b) The operating agreement  may  set  forth  provisions  relating  to  notice  of the time, place or purpose of any meeting at which any matter  is to be voted on by any managers, waiver of any such notice, action  by  consent  without  a  meeting, the establishment of a record date, quorum  requirements, voting in person or by proxy  or  any  other  matter  with  respect to the exercise of any such right to vote.