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Texas Business Organizations Code

§ 101.1055 — SUBSCRIPTIONS

BO § 101.1055Title 3. LIMITED LIABILITY COMPANIES · Ch. 101. LIMITED LIABILITY COMPANIES · Art. C. MEMBERSHIP

Statute text

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(a)A subscription to purchase a membership interest in a limited liability company in the process of being formed is irrevocable to the extent provided by the terms of the subscription if:
(1)the subscription is in writing and signed by the subscriber; and
(2)the subscription states that it is irrevocable.
(b)A written subscription entered into after the limited liability company is formed is a contract between the subscriber and the company.

Legislative history

Added by Acts 2025, 89th Leg., R.S., Ch. 199 (S.B. 2411), Sec. 48, eff. September 1, 2025.

Source: Texas Business Organizations Code § 101.1055 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.