Texas Business Organizations Code
Sec. § 101.108
Assignment of Membership Interest


(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

(C)

exercise any rights of a member of the company.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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Last accessed
Nov. 22, 2019