Section 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) "Managing entity" means an entity that is either:(A) a manager of a limited liability company that is managed by managers; or(B) a member of a limited liability company that is managed by members who are entitled to manage the company.(3) "Member" includes a person who is a member or is an assignee of a membership interest or a person who beneficially owns a membership interest through a voting trust or a nominee on the person's behalf.Tex. Bus. Org. Code § 101.451
Amended by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 39,Sec. 29, eff. 9/1/2021.Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 899,Sec. 13, eff. 9/1/2019. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.