{"data":{"id":"us-tx/tex.-business-organizations-code-101.109","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 101.109","heading":"RIGHTS AND DUTIES OF ASSIGNEE OF MEMBERSHIP INTEREST BEFORE MEMBERSHIP.","body":"(a) A person who is assigned a membership interest in a limited liability company is entitled to:\n(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;\n(2) receive any distribution the assignor is entitled to receive to the extent the distribution is assigned; and\n(3) the rights described by Section 101.502.\n(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.\n(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.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.\nAmended by:\nActs 2025, 89th Leg., R.S., Ch. 199 (S.B. 2411), Sec. 49, eff. September 1, 2025.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 3. LIMITED LIABILITY COMPANIES","CHAPTER 101. LIMITED LIABILITY COMPANIES","SUBCHAPTER C. MEMBERSHIP"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.101.htm#101.109","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"82cff328ea362ced7c9cc0d38ea41fd47ffd497c61ef3339a1e635d146f01ff5","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-101.108","next":"us-tx/tex.-business-organizations-code-101.110"},"notice":"GroundRules: Original legal text. Not legal advice."}