14-11-310. Meetings.

Except as otherwise provided in the articles of organization or a written operating agreement, if the limited liability company has more than one manager:#

1. (1)

   Meetings of managers may be called by any manager;#

2. (2)

   At least two days’ notice of any meeting of managers shall be given by any manager calling the meeting;#

3. (3)

   Managers may participate in any meeting by, or conduct the meeting through the use of, any means of communication by which all members participating may simultaneously hear each other during the meeting. A manager participating in a meeting by this means is deemed to be present in person at the meeting;#

4. (4)

   A majority in number of managers shall constitute a quorum for a meeting of managers; and#

5. (5)

   The act of a majority of managers at a meeting of managers at which a quorum is present shall be required for managers to take action on any matter where a vote of managers is required.#

Unless otherwise provided in the articles of organization or a written operating agreement:#

1. (1)

   Meetings of members may be called by at least 25 percent of the members;#

2. (2)

   At least two days’ notice of all meetings of members shall be given by the members authorized to call meetings;#

3. (3)

   Members may participate in any meeting by, or conduct the meeting through the use of, any means of communication by which all members participating may simultaneously hear each other during the meeting. A member participating in a meeting by this means is deemed to be present in person at the meeting;#

4. (4)

   A majority of the members shall constitute a quorum for a meeting of members; and#

5. (5)

   Except as otherwise provided in this chapter, the act of a majority of members present at a meeting at which a quorum is present shall be required to take action on any matter where a vote of members is required.#