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Texas Business Organizations Code

§ 101.457 — TOLLING OF STATUTE OF LIMITATIONS

BO § 101.457Title 3. LIMITED LIABILITY COMPANIES · Ch. 101. LIMITED LIABILITY COMPANIES · Art. J. DERIVATIVE PROCEEDINGS

Statute text

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A written demand filed with the limited liability company under Section 101.453 tolls the statute of limitations on the claim on which demand is made until the later of:
(1)the 31st day after the expiration of any waiting period under Section 101.453; or
(2)the 31st day after the expiration of any stay granted under Section 101.455, including all continuations of the stay. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by:

Legislative history

Acts 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603), Sec. 19, eff. September 1, 2019. Acts 2021, 87th Leg., R.S., Ch. 39 (S.B. 1203), Sec. 30, eff. September 1, 2021. Acts 2023, 88th Leg., R.S., Ch. 27 (S.B. 1514), Sec. 40, eff. September 1, 2023.

Source: Texas Business Organizations Code § 101.457 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.