Texas Business Organizations Code

§ 101.629 — CONVERSION NOT WINDING UP EVENT

BO § 101.629Title 3. LIMITED LIABILITY COMPANIES · Ch. 101. LIMITED LIABILITY COMPANIES · Art. M. SERIES LIMITED LIABILITY COMPANY

Statute text

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Unless otherwise agreed, the conversion of a converting series under Sections 101.627 through 101.631 does not:

(1)require the limited liability company or the converting series to wind up the series' affairs under Section 11.051, 11.056, 101.552 or 101.616 or to pay the series' liabilities and distribute its assets under Sections 11.053 and 101.617; or

(2)constitute an event requiring winding up of the company or the converting series.

Legislative history

Added by Acts 2021, 87th Leg., R.S., Ch. 43 (S.B. 1523), Sec. 1, eff. June 1, 2022.