2003 Minnesota Statutes

     322B.686 Resignation, removal and vacancy. 

    Subdivision 1.    Resignation.  A manager may resign at 
 any time by giving written notice to the limited liability 
 company.  The resignation is effective without acceptance when 
 the notice is given to the limited liability company, unless a 
 later effective date is specified in the notice.  

    Subd. 2.    Removal.  A manager may be removed at any 
 time, with or without cause, by a resolution approved by the 
 affirmative vote of a majority of the governors present, subject 
 to the provisions of a member control agreement.  The removal is 
 without prejudice to any contractual rights of the manager.  

    Subd. 3.    Vacancy.  A vacancy in an office because of 
 death, resignation, removal, disqualification, or other cause 
 may, or in the case of a vacancy in the office of chief manager 
 or treasurer must, be filled for the unexpired portion of the 
 term in the manner provided in the articles, a member control 
 agreement, or bylaws, or determined by the board of governors, 
 or pursuant to section 322B.68.  

    HIST: 1992 c 517 art 2 s 90; 1999 c 85 art 2 s 81,96