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Texas Business Organizations Code - Section 101.207. Creditor Status With Respect To Distribution

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 101.207. Creditor Status With Respect To Distribution

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§ 101.207. CREDITOR STATUS WITH RESPECT TO DISTRIBUTION. Subject to Sections 11.053 and 101.206, when a member of a limited liability company is entitled to receive a distribution from the company, the member, with respect to the distribution, has the same status as a creditor of the company and is entitled to any remedy available to a creditor of the company. Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.

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Last modified: August 11, 2007