Tex. Bus. Orgs. Code § 101.204 · Subchapter E. ALLOCATIONS AND DISTRIBUTIONS

INTERIM DISTRIBUTIONS.

Verbatim from the official edition

Text — Current through the 89th 2nd Called Legislative Session, 2025

A member of a limited liability company, before the winding up of the company, is not entitled to receive and may not demand a distribution from the company until the company's governing authority declares a distribution to:

(1) each member of the company; or

(2) a class or group of members that includes the member.

Notes and commentary — not statutory text

History

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source of truth

Edition: Current through the 89th 2nd Called Legislative Session, 2025
Official file: https://statutes.capitol.texas.gov/Docs/BO/htm/BO.101.htm
Text hash: sha256 9ce98a231ce1b8f00ecbe0c92492260dc9acbaf0f55fd87123e24ae88646bd28
Composed by: compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character

Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.