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Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Business Organizations Code § 23.063: WITHDRAWAL OF MEMBER.

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Where this section sits in the code
  1. BUSINESS ORGANIZATIONS CODE
  2. TITLE 2. CORPORATIONS
  3. CHAPTER 23. SPECIAL-PURPOSE CORPORATIONS
  4. SUBCHAPTER B. BUSINESS DEVELOPMENT CORPORATIONS

(a) On written notice to the corporation's board of directors, a member may withdraw from a corporation on the date stated in the notice. The date of a member's withdrawal must be at least six months after the date notice is given under this subsection.

(b) A member is not obligated to make a loan to the corporation pursuant to a call made after the date of the member's withdrawal from the corporation, but a member shall fulfill any obligation that has accrued or for which a commitment has been made before the withdrawal date.

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

Collected 2026-08-27T01:46:58Z. Source file · JSON

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