Texas Business Organizations Code

§ 101.108 — ASSIGNMENT OF MEMBERSHIP INTEREST

BO § 101.108Title 3. LIMITED LIABILITY COMPANIES · Ch. 101. LIMITED LIABILITY COMPANIES · Art. C. MEMBERSHIP

(a)A membership interest in a limited liability company may be wholly or partly assigned.

(b)An assignment of a membership interest in a limited liability company:

(1)is not an event requiring the winding up of the company; and

(2)does not entitle the assignee to:

(A)participate in the management and affairs of the company;

(B)become a member of the company; or

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Legislative history

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