Senate Bill No. 1364

Public Act No. 99-133

An Act Concerning Limited Liability Companies.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

Subsection (c) of section 34-140 of the general statutes is repealed and the following is substituted in lieu thereof:

(c) The operating agreement of a limited liability company may contain any provisions for the regulation and management of its affairs, including provisions for the appointment or designation of officers by the members, if management of a limited liability company is vested in its member or members, or by the managers, if management of a limited liability company is vested in a manager or managers, which are not inconsistent with law, the articles of organization or any provisions of sections 34-100 to 34-242, inclusive. If

the limited liability company has only one member, the operating agreement may be adopted by such member and the limited liability company or may be a statement adopted by such member.

Approved June 8, 1999

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