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Texas Business Organizations Code - Section 101.204. Interim Distributions

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 101.204. Interim Distributions

§ 101.204. INTERIM DISTRIBUTIONS.  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.                  

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

Last modified: August 11, 2007