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Texas Business Organizations Code - Section 101.451. Definitions

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 101.451. Definitions

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§ 101.451. DEFINITIONS. In this subchapter: (1) "Derivative proceeding" means a civil suit in the right of a domestic limited liability company or, to the extent provided by Section 101.462, in the right of a foreign limited liability company. (2) "Member" includes a person who beneficially owns a membership interest through a voting trust or a nominee on the person's behalf. Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.

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Last modified: August 11, 2007