{"data":{"id":"us-tx/tex.-business-organizations-code-101.111","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 101.111","heading":"RIGHTS AND DUTIES OF ASSIGNOR OF MEMBERSHIP INTEREST.","body":"(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.\n(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.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","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#101.111","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"b64a70264fec9f36d325543bd4d6e8b07f501c01d99c295845e8d7748db26d1b","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-101.110","next":"us-tx/tex.-business-organizations-code-101.1115"},"notice":"GroundRules: Original legal text. Not legal advice."}