Source: https://chowinslaw.com/resources/texas-business-laws/311-membership-in-texas-limited-liability-companies
Timestamp: 2019-04-23 03:56:53+00:00

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(a) A limited liability company may have one or more members. Except as provided by this section, a limited liability company must have at least one member.
(b) A limited liability company that has managers is not required to have any members during a reasonable period between the date the company is formed and the date the first member is admitted to the company.
(c) A limited liability company is not required to have any members during the period between the date the continued membership of the last remaining member of the company is terminated and the date the agreement to continue the company described by § 11.056 is executed.
§ 101.102. QUALIFICATION FOR MEMBERSHIP.
(a) A person may be a member of or acquire a membership interest in a limited liability company unless the person lacks capacity apart from this code.
(3) assume an obligation to make a contribution or otherwise pay cash or transfer property to the company.
(c) If one or more persons own a membership interest in a limited liability company, the company agreement may provide for a person to be admitted to the company as a member without acquiring a membership interest in the company.
§ 101.103. EFFECTIVE DATE OF MEMBERSHIP.
(a) In connection with the formation of a company, a person becomes a member of the company on the date the company is formed if the person is named as an initial member in the company's certificate of formation.
(3) if the company's records do not state a date described by Subdivision (2), the date the person's admission to the company is first reflected in the company's records.
(c) A person who, after the formation of a limited liability company, acquires directly or is assigned a membership interest in the company or is admitted as a member of the company without acquiring a membership interest becomes a member of the company on approval or consent of all of the company's members.
§ 101.104. CLASSES OR GROUPS OF MEMBERS OR MEMBERSHIP INTERESTS.
(2) provide for the manner of establishing within the company additional classes or groups of one or more members or membership interests each of which has certain expressed relative rights, powers, and duties, including voting rights.
(b) The rights, powers, and duties of a class or group of members or membership interests described by Subsection (a)(2) may be stated in the company agreement or stated at the time the class or group is established.
(c) If the company agreement of a limited liability company does not provide for the manner of establishing classes or groups of members or membership interests under Subsection (a)(2), additional classes or groups of members or membership interests may be established only by the adoption of an amendment to the company agreement.
(d) The rights, powers, or duties of any class or group of members or membership interests of a limited liability company may be senior to the rights, powers, or duties of any other class or group of members or membership interests in the company, including a previously established class or group.
§ 101.105. ISSUANCE OF MEMBERSHIP INTERESTS AFTER FORMATION OF COMPANY.
(2) if the issuance of a membership interest requires the establishment of a new class or group of members or membership interests, establish a new class or group as provided by §§ 101.104(a)(2), (b), and (c).
§ 101.106. NATURE OF MEMBERSHIP INTEREST.
(a) A membership interest in a limited liability company is personal property.
(a-1) A membership interest may be community property under applicable law.
(a-2) A member's right to participate in the management and conduct of the business of the limited liability company is not community property.
(b) A member of a limited liability company or an assignee of a membership interest in a limited liability company does not have an interest in any specific property of the company.
(c) §§ 9.406 and 9.408, Business & Commerce Code, do not apply to a membership interest in a limited liability company, including the rights, powers, and interests arising under the company's certificate of formation or company agreement or under this code. To the extent of any conflict between this subsection and § 9.406 or 9.408, Business & Commerce Code, this subsection controls. It is the express intent of this subsection to permit the enforcement, as a contract among the members of a limited liability company, of any provision of a company agreement that would otherwise be ineffective under § 9.406 or 9.408, Business & Commerce Code.
§ 101.107. WITHDRAWAL OR EXPULSION OF MEMBER PROHIBITED.
A member of a limited liability company may not withdraw or be expelled from the company.
§ 101.108. ASSIGNMENT OF MEMBERSHIP INTEREST.
(a) A membership interest in a limited liability company may be wholly or partly assigned.
(C) exercise any rights of a member of the company.
§ 101.109. RIGHTS AND DUTIES OF ASSIGNEE OF MEMBERSHIP INTEREST BEFORE MEMBERSHIP.
(4) make, for any proper purpose, reasonable inspections of the books and records of the company.
(b) An assignee of a membership interest in a limited liability company is entitled to become a member of the company on the approval of all of the company's members.
(c) An assignee of a membership interest in a limited liability company is not liable as a member of the company until the assignee becomes a member of the company.
§ 101.110. RIGHTS AND LIABILITIES OF ASSIGNEE OF MEMBERSHIP INTEREST AFTER BECOMING MEMBER.
(3) except as provided by Subsection (b), liable for the assignor's obligation to make contributions to the company.
(2) could not be ascertained from the company agreement.
§ 101.111. RIGHTS AND DUTIES OF ASSIGNOR OF MEMBERSHIP INTEREST.
(a) An assignor of a membership interest in a limited liability company continues to be a member of the company and is entitled to exercise any unassigned rights or powers of a member of the company until the assignee becomes a member of the company.
(b) An assignor of a membership interest in a limited liability company is not released from the assignor's liability to the company, regardless of whether the assignee of the membership interest becomes a member of the company.
§ 101.1115. EFFECT OF DEATH OR DIVORCE ON MEMBERSHIP INTEREST.
(3) on the death of a member's spouse, an heir, devisee, personal representative, or other successor of the spouse, other than the member, to the extent of their respective membership interest, if any, is an assignee of the membership interest.
(b) This chapter does not impair an agreement for the purchase or sale of a membership interest at any time, including on the death or divorce of an owner of the membership interest.
§ 101.112. MEMBER'S MEMBERSHIP INTEREST SUBJECT TO CHARGING ORDER.
(a) On application by a judgment creditor of a member of a limited liability company or of any other owner of a membership interest in a limited liability company, a court having jurisdiction may charge the membership interest of the judgment debtor to satisfy the judgment.
(d) The entry of a charging order is the exclusive remedy by which a judgment creditor of a member or of any other owner of a membership interest may satisfy a judgment out of the judgment debtor's membership interest.
(e) This § may not be construed to deprive a member of a limited liability company or any other owner of a membership interest in a limited liability company of the benefit of any exemption laws applicable to the membership interest of the member or owner.
§ 101.113. PARTIES TO ACTIONS.
A member of a limited liability company may be named as a party in an action by or against the limited liability company only if the action is brought to enforce the member's right against or liability to the company.
§ 101.114. LIABILITY FOR OBLIGATIONS.

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