What is Managing Agent?

Legal Definition
A person who is invested with general power, involving the exercise of judgment and discretion, as distinguished from an ordinary agent or employe, who acts in an inferior capacity, and under the direction and control of superior authority, both in regard to the extent of the work and the manner of executing the same. Reddington v. Mariposa Land & Min. Co... 19 Hun (N. Y.) 405; Taylor v. Granite State Prov. Ass'n, 136 N. Y. 343, 32 N. E. 992, 32 Am. St. Rep. 749; U. S. v. American Bell Tel. Co. (O. C.) 29 Fed. 33; Upper Mississippi Transp. Co. v. Whittaker, 16 Wis. 220; Foster v. Charles Betcher Lumber Co., 5 S. D 57, 58 N. W. 9, 23 L. R. A. 490, 49 Am. St. Rep. 859.
-- Black's Law Dictionary