Florida Statute 605.04072 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVI
BUSINESS ORGANIZATIONS

Chapter 605
FLORIDA REVISED LIMITED LIABILITY COMPANY ACT

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F.S. 605.04072

605.04072 Selection and terms of managers in a manager-managed limited liability company.—In a manager-managed limited liability company, the following rules apply:

(1) A manager may be chosen at any time by the consent of the member or members holding more than 50 percent of the then-current percentage or other interest in the profits of the limited liability company owned by all of its members.

(2) A person need not be a member to be a manager.

(3) A person chosen as a manager continues as a manager until a successor is chosen, unless the manager at an earlier time resigns, is removed, or dies or, in the case of a manager that is not an individual, terminates.

(4) A manager may be removed at any time without notice or cause by the consent of the member or members holding more than 50 percent of the then-current percentage or other interest in the profits of the limited liability company owned by all of its members.

(5) The dissociation of a member who is also a manager removes the person as a manager.

(6) If a person who is both a manager and a member ceases to be a manager, that cessation does not, by itself, dissociate the person as a member.

(7) A person’s ceasing to be a manager does not discharge a debt, obligation, or other liability to the limited liability company or members which the person incurred while a manager.

History.—s. 2, ch. 2013-180.

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Amendments to 605.04072

Arrestable Offenses / Crimes under Fla. Stat. 605.04072

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 605.04072.

Annotations, Discussions, Cases:

Cases Citing Statute 605.04072

Total Results: 1

ADDIEL LOPEZ v. GADI HUS

Court: Fla. Dist. Ct. App. | Date Filed: 2020-02-11T23:53:00-08:00

Snippet: percentage” interest in the LLC’s profits. § 605.04072(4), Fla. Stat. (2016). But he contends that…application. The plain language of section 605.04072(4) permits the removal of a manager of a manager-managed…)). Despite the plain language of section 605.04072, Lopez is correct that section 605.04073(2)(e)…agreement and articles of organization. Section 605.04072, on the other hand, specifically addresses the… the legislature’s intent in enacting section 605.04072. That statute allows the removal of a manager