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Texas Business Organizations Code

§ 101.401 — EXPANSION, RESTRICTION, OR ELIMINATION OF DUTIES AND LIABILITIES

BO § 101.401Title 3. LIMITED LIABILITY COMPANIES · Ch. 101. LIMITED LIABILITY COMPANIES · Art. I. MODIFICATION OF DUTIES; INDEMNIFICATION

Statute text

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The company agreement of a limited liability company may expand, restrict, or eliminate any duties, including fiduciary duties, and related liabilities that a member, manager, officer, or other person has to the company or to a member or manager of the company. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by:

Legislative history

Acts 2025, 89th Leg., R.S., Ch. 21 (S.B. 29), Sec. 18, eff. May 14, 2025.

Source: Texas Business Organizations Code § 101.401 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.