Common use of Other Managers Clause in Contracts

Other Managers. In addition to appointing a Chief Manager and a Treasurer, the Board of Governors may appoint, in a resolution approved by the affirmative vote of a majority of the governors present, any other managers, assistant managers or agents nominated by the Chief Manager which the Board of Governors deems necessary or appropriate for the operation and management of the limited liability company, each of whom shall have the powers, rights, duties, responsibilities and terms in office determined by the Chief Manager from time to time. A Secretary, if elected, shall maintain records and, with the Chief Manager, certify proceedings of the Board of Governors and the members. If specific persons have not been elected as President or Secretary, the Chief Manager may execute instruments or documents in those capacities.

Appears in 2 contracts

Sources: Bylaws (Aspirity Holdings LLC), Bylaws (Twin Cities Power Holdings, LLC)