Tex. Bus. Orgs. Code § 101.503 · Subchapter K. SUPPLEMENTAL RECORDKEEPING REQUIREMENTS
PENALTY FOR REFUSAL TO PERMIT EXAMINATION OF CERTAIN RECORDS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) A limited liability company that refuses to allow a member or an assignee of a membership interest to examine and copy, on written request that complies with Section 101.502(a), records or other information described by that section is liable to the member or assignee for any cost or expense, including attorney's fees, incurred in enforcing the member's or assignee's rights under Section 101.502. The liability imposed on a limited liability company under this subsection is in addition to any other damages or remedy afforded to the member or assignee by law.
(b) It is a defense to an action brought under this section that the person suing:
(1) has improperly used information obtained through a prior examination of the records or other information of the limited liability company or any other limited liability company, under Section 101.502; or
(2) was not acting in good faith or for a proper purpose in making the person's request for examination.
Notes and commentary — not statutory text
History
Added by Acts 2017, 85th Leg., R.S., Ch. 74 (S.B. 1517), Sec. 11, eff. September 1, 2017.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 658 (S.B. 1859), Sec. 10, eff. September 1, 2019.
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 11fec64faf32c3be066f812f83681094db9c483fa4f5b3acfa48d2f7cf7ebbe2
- 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
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Business Organizations Code
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.