Legal Question in Business Law in Florida
In RE: Manager-Managed LLC Operating Agreement State of Florida.
Please explain what this sentence means:
Term of Office as Manager: NO MANAGER SHALL HAVE ANY CONTRACTUAL RIGHT TO SUCH POSITION. Each Manager shall serve until the earliest of: (a) removal of the Manager by the Members or (b) written resignation of the Manager.
This sounds like there is NO CONTRACTUAL RIGHT for the Position of Manager. I know this is a dumb question. I dont have a Blacks Law Dictionary.
Asked on 3/18/10, 7:03 pm
1 Answer from Attorneys
Alan Wagner
Wagner, McLaughlin & Whittemore P.A.
Yep -- that's what it says. The manager can be "fired" by the members at any time.
Answered on 3/23/10, 7:12 pm
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