Tex. Bus. Org. Code § 101.108

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

Section 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.

Tex. Bus. Org. Code § 101.108

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