Texas Business Organizations Code § 101.108 Assignment Of Membership Interest

Sec. 101.108. ASSIGNMENT OF MEMBERSHIP INTEREST. (a) A membership interest in a limited liability company may be wholly or partly assigned.

(b) An assignment of a membership interest in a limited liability company:

(1) is not an event requiring the winding up of the company; and

(2) does not entitle the assignee to:

(A) participate in the management and affairs of the company;

(B) become a member of the company; or

(C) exercise any rights of a member of the company.

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

Section: Previous  101.101  101.102  101.103  101.104  101.105  101.106  101.107  101.108  101.109  101.110  101.111  101.1115  101.112  101.113  101.114  Next

Last modified: September 28, 2016