Tex. Bus. Org. Code § 11.314

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 11.314 - Involuntary Winding Up and Termination of Partnership or Limited Liability Company

A district court in the county in which the registered office or principal place of business in this state of a domestic partnership or limited liability company is located has jurisdiction to order the winding up and termination of the domestic partnership or limited liability company on application by an owner of the partnership or limited liability company if the court determines that:

(1) the economic purpose of the entity is likely to be unreasonably frustrated;

(2) another owner has engaged in conduct relating to the entity's business that makes it not reasonably practicable to carry on the business with that owner; or

(3) it is not reasonably practicable to carry on the entity's business in conformity with its governing documents.

Tex. Bus. Org. Code § 11.314

Amended by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 74,Sec. 7, eff. 9/1/2017.

Amended by Acts 2009, 81st Leg., R.S., Ch. 84, Sec. 25, eff. 9/1/2009.

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