reglab/housing_qa huggingface dataset:
TX Bus Orgs § 101.102 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.102. Qualification for Membership

Sec. 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.(b)  A person is not required, as a condition to becoming a member of or acquiring a membership interest in a limited liability company, to:(1)  make a contribution to the company;(2)  otherwise pay cash or transfer property to the company;  or(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.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.Amended by: Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 71, eff. January 1, 2006.|
TX Bus Orgs § 101.103 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.103. Effective Date of Membership

Sec. 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.(b)  In connection with the formation of a company, a person being admitted as a member of the company but not named as an initial member in the company's certificate of formation becomes a member of the company on the latest of:(1)  the date the company is formed;(2)  the date stated in the company's records as the date the person becomes a member of the company; or(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.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.Amended by: Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 72, eff. January 1, 2006.|
TX Bus Orgs § 101.104 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.104. Classes or Groups of Members or Membership Interests

Sec. 101.104.  CLASSES OR GROUPS OF MEMBERS OR MEMBERSHIP INTERESTS.  (a)  The company agreement of a limited liability company may:(1)  establish within the company 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;  and(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.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.105 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.105. Issuance of Membership Interests After Formation of Company

Sec. 101.105.  ISSUANCE OF MEMBERSHIP INTERESTS AFTER FORMATION OF COMPANY.  A limited liability company, after the formation of the company, may:(1)  issue membership interests in the company to any person with the approval of all of the members of the company;  and(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 Sections 101.104(a)(2), (b), and (c).|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.106 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.106. Nature of Membership Interest

Sec. 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)  Sections 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 Section 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 Section 9.406 or 9.408, Business & Commerce Code.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.Amended by: Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 39, eff. September 1, 2009.Acts 2011, 82nd Leg., R.S., Ch. 139 (S.B. 748), Sec. 35, eff. September 1, 2011.|
TX Bus Orgs § 101.107 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.107. Withdrawal or Expulsion of Member Prohibited

Sec. 101.107.  WITHDRAWAL OR EXPULSION OF MEMBER PROHIBITED.  A member of a limited liability company may not withdraw or be expelled from the company.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.108 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 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.|
TX Bus Orgs § 101.109 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.109. Rights and Duties of Assignee of Membership Interest Before Membership

Sec. 101.109.  RIGHTS AND DUTIES OF ASSIGNEE OF MEMBERSHIP INTEREST BEFORE MEMBERSHIP.  (a)  A person who is assigned a membership interest in a limited liability company is entitled to:(1)  receive any allocation of income, gain, loss, deduction, credit, or a similar item that the assignor is entitled to receive to the extent the allocation of the item is assigned;(2)  receive any distribution the assignor is entitled to receive to the extent the distribution is assigned;(3)  require, for any proper purpose, reasonable information or a reasonable account of the transactions of the company;  and(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.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.110 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.110. Rights and Liabilities of Assignee of Membership Interest After Becoming Member

Sec. 101.110.  RIGHTS AND LIABILITIES OF ASSIGNEE OF MEMBERSHIP INTEREST AFTER BECOMING MEMBER.  (a)  An assignee of a membership interest in a limited liability company, after becoming a member of the company, is:(1)  entitled, to the extent assigned, to the same rights and powers granted or provided to a member of the company by the company agreement or this code;(2)  subject to the same restrictions and liabilities placed or imposed on a member of the company by the company agreement or this code;  and(3)  except as provided by Subsection (b), liable for the assignor's obligation to make contributions to the company.(b)  An assignee of a membership interest in a limited liability company, after becoming a member of the company, is not obligated for a liability of the assignor that:(1)  the assignee did not have knowledge of on the date the assignee became a member of the company;  and(2)  could not be ascertained from the company agreement.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.111 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.111. Rights and Duties of Assignor of Membership Interest

Sec. 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.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.1115 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.1115. Effect of Death or Divorce on Membership Interest

Sec. 101.1115.  EFFECT OF DEATH OR DIVORCE ON MEMBERSHIP INTEREST.  (a)  For purposes of this code:(1)  on the divorce of a member, the member's spouse, to the extent of the spouse's membership interest, if any, is an assignee of the membership interest;(2)  on the death of a member, the member's surviving spouse, if any, and an heir, devisee, personal representative, or other successor of the member, to the extent of their respective membership interest, are assignees of the membership interest; and(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.|Added by Acts 2011, 82nd Leg., R.S., Ch. 139 (S.B. 748), Sec. 36, eff. September 1, 2011.|
TX Bus Orgs § 101.112 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.112. Member's Membership Interest Subject to Charging Order

Sec. 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.(b)  If a court charges a membership interest with payment of a judgment as provided by Subsection (a), the judgment creditor has only the right to receive any distribution to which the judgment debtor would otherwise be entitled in respect of the membership interest.(c)  A charging order constitutes a lien on the judgment debtor's membership interest.  The charging order lien may not be foreclosed on under this code or any other law.(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 section 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.(f)  A creditor of a member or of any other owner of a membership interest does not have the right to obtain possession of, or otherwise exercise legal or equitable remedies with respect to, the property of the limited liability company.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.Amended by: Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 98, eff. September 1, 2007.Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 40, eff. September 1, 2009.|
TX Bus Orgs § 101.113 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.113. Parties to Actions

Sec. 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.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.114 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.114. Liability for Obligations

Sec. 101.114.  LIABILITY FOR OBLIGATIONS.  Except as and to the extent the company agreement specifically provides otherwise, a member or manager is not liable for a debt, obligation, or liability of a limited liability company, including a debt, obligation, or liability under a judgment, decree, or order of a court.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.151 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter D. Contributions|Section 101.151. Requirements for Enforceable Promise

Sec. 101.151.  REQUIREMENTS FOR ENFORCEABLE PROMISE.  A promise to make a contribution or otherwise pay cash or transfer property to a limited liability company is enforceable only if the promise is:(1)  in writing;  and(2)  signed by the person making the promise.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.152 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter D. Contributions|Section 101.152. Enforceable Promise Not Affected by Change in Circumstances

Sec. 101.152.  ENFORCEABLE PROMISE NOT AFFECTED BY CHANGE IN CIRCUMSTANCES.  A member of a limited liability company is obligated to perform an enforceable promise to make a contribution or otherwise pay cash or transfer property to the company without regard to the death, disability, or other change in circumstances of the member.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.153 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter D. Contributions|Section 101.153. Failure to Perform Enforceable Promise; Consequences

Sec. 101.153.  FAILURE TO PERFORM ENFORCEABLE PROMISE;  CONSEQUENCES.  (a)   A member of a limited liability company, or the member's legal representative or successor, who does not perform an enforceable promise to make a contribution, including a previously made contribution, or to otherwise pay cash or transfer property to the company, is obligated, at the request of the company, to pay in cash the agreed value of the contribution, as stated in the company agreement or the company's records required under Sections 3.151 and 101.501, less:(1)  any amount already paid for the contribution;  and(2)  the value of any property already transferred.(b)  The company agreement of a limited liability company may provide that the membership interest of a member who fails to perform an enforceable promise to make a payment of cash or transfer property to the company, whether as a contribution or in connection with a contribution already made, may be:(1)  reduced;(2)  subordinated to other membership interests of nondefaulting members;(3)  redeemed or sold at a value determined by appraisal or other formula;  or(4)  made the subject of:(A)  a forced sale;(B)  forfeiture;(C)  a loan from other members of the company in an amount necessary to satisfy the enforceable promise;  or(D)  another penalty or consequence.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.154 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter D. Contributions|Section 101.154. Consent Required to Release Enforceable Obligation

Sec. 101.154.  CONSENT REQUIRED TO RELEASE ENFORCEABLE OBLIGATION.  The obligation of a member of a limited liability company, or of the member's legal representative or successor, to make a contribution or otherwise pay cash or transfer property to the company, or to return cash or property to the company paid or distributed to the member in violation of this code or the company agreement, may be released or settled only by consent of each member of the company.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.155 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter D. Contributions|Section 101.155. Creditor's Right to Enforce Certain Obligations

Sec. 101.155.  CREDITOR'S RIGHT TO ENFORCE CERTAIN OBLIGATIONS.  A creditor of a limited liability company who extends credit or otherwise acts in reasonable reliance on an enforceable obligation of a member of the company that is released or settled as provided by Section 101.154 may enforce the original obligation if the obligation is stated in a document that is:(1)  signed by the member;  and(2)  not amended or canceled to evidence the release or settlement of the obligation.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.156 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter D. Contributions|Section 101.156. Requirements to Enforce Conditional Obligation

Sec. 101.156.  REQUIREMENTS TO ENFORCE CONDITIONAL OBLIGATION.  (a)  An obligation of a member of a limited liability company that is subject to a condition may be enforced by the company or a creditor described by Section 101.155 only if the condition is satisfied or waived by or with respect to the member.(b)  A conditional obligation of a member of a limited liability company under this section includes a contribution payable on a discretionary call of the limited liability company before the time the call occurs.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.201 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter E. Allocations and Distributions|Section 101.201. Allocation of Profits and Losses

Sec. 101.201.  ALLOCATION OF PROFITS AND LOSSES.  The profits and losses of a limited liability company shall be allocated to each member of the company on the basis of the agreed value of the contributions made by each member, as stated in the company's records required under Section 101.501.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.Amended by: Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 73, eff. January 1, 2006.|
TX Bus Orgs § 101.202 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter E. Allocations and Distributions|Section 101.202. Distribution in Kind

Sec. 101.202.  DISTRIBUTION IN KIND.  A member of a limited liability company is entitled to receive or demand a distribution from the company only in the form of cash, regardless of the form of the member's contribution to the company.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.203 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter E. Allocations and Distributions|Section 101.203. Sharing of Distributions

Sec. 101.203.  SHARING OF DISTRIBUTIONS.  Distributions of cash and other assets of a limited liability company shall be made to each member of the company according to the agreed value of the member's contribution to the company as stated in the company's records required under Sections 3.151 and 101.501.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.204 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter E. Allocations and Distributions|Section 101.204. Interim Distributions

Sec. 101.204.  INTERIM DISTRIBUTIONS.  A member of a limited liability company, before the winding up of the company, is not entitled to receive and may not demand a distribution from the company until the company's governing authority declares a distribution to:(1)  each member of the company;  or(2)  a class or group of members that includes the member.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.205 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter E. Allocations and Distributions|Section 101.205. Distribution on Withdrawal

Sec. 101.205.  DISTRIBUTION ON WITHDRAWAL.  A member of a limited liability company who validly exercises the member's right to withdraw from the company granted under the company agreement is entitled to receive, within a reasonable time after the date of withdrawal, the fair value of the member's interest in the company as determined as of the date of withdrawal.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|