Texas Business Organizations Code

§ 101.605 — GENERAL POWERS OF PROTECTED SERIES OR REGISTERED SERIES

BO § 101.605Title 3. LIMITED LIABILITY COMPANIES · Ch. 101. LIMITED LIABILITY COMPANIES · Art. M. SERIES LIMITED LIABILITY COMPANY

Statute text

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A protected series or registered series established under this subchapter has the power and capacity, in the name of the protected series or registered series, to:

(1)sue and be sued;

(2)contract;

(3)acquire, sell, and hold title to assets of the protected series or registered series, including real property, personal property, and intangible property;

(4)grant liens and security interests in assets of the protected series or registered series;

(5)be a promoter, organizer, partner, owner, member, associate, or manager of an organization; and

…

Legislative history

Acts 2013, 83rd Leg., R.S., Ch. 9 (S.B. 847), Sec. 6, eff. September 1, 2013. Acts 2017, 85th Leg., R.S., Ch. 74 (S.B. 1517), Sec. 13, eff. September 1, 2017. Acts 2021, 87th Leg., R.S., Ch. 43 (S.B. 1523), Sec. 1, eff. June 1, 2022.