GroundRules
Tex. Business Organizations Code § 101.207: CREDITOR STATUS WITH RESPECT TO DISTRIBUTION.
Where this section sits in the code
- BUSINESS ORGANIZATIONS CODE
- TITLE 3. LIMITED LIABILITY COMPANIES
- CHAPTER 101. LIMITED LIABILITY COMPANIES
- SUBCHAPTER E. ALLOCATIONS AND DISTRIBUTIONS
Subject to Sections 11.053 and 101.206, when a member of a limited liability company is entitled to receive a distribution from the company, the member, with respect to the distribution, has the same status as a creditor of the company and is entitled to any remedy available to a creditor of the company.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Collected 2026-08-27T01:46:58Z. Source file · JSON