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Texas Business Organizations Code - Section 101.106. Nature Of Membership Interest

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§ 101.106. NATURE OF MEMBERSHIP INTEREST. (a) A membership interest in a limited liability company is personal property. (b) A member of a limited liability company or an assignee of a membership interest in a limited liability company does not have an interest in any specific property of the company. Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.

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Last modified: August 11, 2007