Section 404(d) of the Uniform Limited Liability Company Act provides:
Action requiring the consent of members or managers under this Act may be taken without a meeting.
New Mexico Unanimous Consent to Action By the Members of a Limited Liability Company, in Lieu of a Meeting, Ratifying Past Actions of Managing Member and/or Members is an important legal process that allows members of a limited liability company (LLC) to take action and ratify past decisions without having to hold a formal meeting. This method streamlines the decision-making process and saves time for all involved parties. Under New Mexico law, there may be variations of unanimous consent provisions based on the specific circumstances and requirements of an LLC. Some of these variations may include: 1. Unanimous Consent to Action By the Members: This provision allows all members of the LLC, regardless of their percentage of ownership or investment, to consent to and approve specific actions taken by the managing member or other members. 2. Unanimous Consent to Ratify Past Actions by the Managing Member: This provision grants the LLC members the power to collectively ratify past actions taken by the managing member, which were not initially approved by the members or did not follow proper procedures. Ratification brings these actions into conformity and makes them legally binding. 3. Unanimous Consent to Ratify Past Actions by the Members: This provision focuses on the collective ratification of past actions taken by the members themselves, ensuring that any actions taken outside the scope of formal meetings are valid and legally binding. 4. Unanimous Consent in Lieu of a Meeting: This provision enables the LLC members to pass resolutions and make decisions without physically convening a meeting. It allows them to provide their consent to specific actions through written documentation or electronic means, approving and validating these actions without the need for a formal gathering. 5. Unanimous Consent to Ratify Past Actions with Prior Notice: In certain cases, LCS may require members to be notified in advance of the intention to ratify past actions. This provision ensures that all members have the opportunity to review and consider the actions to be ratified before providing their unanimous consent. By utilizing the process of unanimous consent, LLC members in New Mexico can efficiently navigate their decision-making responsibilities, ratify past actions by the managing member and/or members, and maintain compliance with state laws and regulations. It is important for LCS to consult legal professionals to draft these provisions in accordance with their specific needs and to ensure their validity under New Mexico statutes.
