If an LLC is Manager-managed, the company’s management lies with it’s Managers, which is similar to the Board of Directors of a Corporation. If an LLC is Member-managed, there is no Board of Managers, and the LLC is directly managed by its Members (the owners).

Either type of management (Members or Board of Managers) can delegate power and authority to the company’s officers. If the management does delegate authority, it will retain the responsibility to oversee the affairs and activities of the company.