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Texas Business Organizations Code - Section 101.151. Requirements For Enforceable Promise

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 101.151. Requirements For Enforceable Promise

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§ 101.151. REQUIREMENTS FOR ENFORCEABLE PROMISE. A promise to make a contribution or otherwise pay cash or transfer property to a limited liability company is enforceable only if the promise is: (1) in writing; and (2) signed by the person making the promise. Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.

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Last modified: August 11, 2007