The incorporators appoint the initial board of directors to manage the business and affairs of the corporation. A member withdrawing pursuant to an operating agreement may become entitled to a withdrawal distribution as described in section 305.You'll need to go through a process called dissolution. Can I register my out-of-state series LLC to transact business in Texas? How do I report multiple beneficial owners or company applicants on one report? The Board of Law Examiners includes a re-exam form with certified notification of failing bar exam scores.