Texas Business Organizations Code
§ 101.105 — ISSUANCE OF MEMBERSHIP INTERESTS AFTER FORMATION OF COMPANY
BO § 101.105Title 3. LIMITED LIABILITY COMPANIES · Ch. 101. LIMITED LIABILITY COMPANIES · Art. C. MEMBERSHIP
Statute text
View on sourceA 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).
Legislative history
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.