Description: Indiana Resolution of Meeting of LLC Members to Remove the Manager of the Company and Appoint a New Manager is a legal document used by the members of a Limited Liability Company (LLC) in Indiana to formally remove the existing manager of the company and appoint a new manager. This resolution acts as an official record of the decision made by the LLC members during a meeting. In order to exercise their right to remove the existing manager and appoint a new one, the LLC members must follow the procedures outlined in the Indiana LLC laws and the company's Operating Agreement. The resolution serves as a formal document that outlines the details of the meeting, including the voting process, the reasons for the removal of the manager, and the name and qualifications of the newly appointed manager. Keywords: Indiana Resolution of Meeting, LLC Members, Remove Manager, Appoint New Manager, Limited Liability Company, Operating Agreement, Voting Process, Indiana LLC Laws. Different Types of Indiana Resolution of Meeting of LLC Members to Remove the Manager of the Company and Appoint a New Manager: 1. Unanimous Resolution: This type of resolution is passed when all the LLC members agree to remove the existing manager and appoint a new one. It signifies complete unity among the members in the decision-making process. 2. Majority Resolution: In cases where the LLC has many members, this resolution is passed when a majority of them vote in favor of removing the existing manager and appointing a new one. The specific majority percentage required may vary based on the LLC's Operating Agreement and the applicable state laws. 3. Special Resolution: This resolution is passed when the LLC members need to remove the manager and appoint a new manager due to extraordinary circumstances. These circumstances could include instances of misconduct, breach of fiduciary duty, or situations that significantly impact the company's operations or financial stability. It is crucial for the LLC members to consult with legal professionals or review the Operating Agreement to understand the specific requirements and procedures for removing and appointing managers in Indiana. This ensures compliance with applicable laws and protects the interests of all parties involved in the LLC.
Indiana Resolution of Meeting of LLC Members to Remove the Manager of the Company and Appoint a New Manager
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