Texas Business Organizations Code
Sec. § 101.451
Definitions


In this subchapter:

(1)

"Derivative proceeding" means a civil suit in the right of a domestic limited liability company or, to the extent provided by Section 101.462, in the right of a foreign limited liability company.

(2)

"Managing entity" means an entity that is either:

(A)

a manager of a limited liability company that is managed by managers; or

(B)

a member of a limited liability company that is managed by members who are entitled to manage the company.

(3)

"Member" means a person who is a member or is an assignee of a membership interest or a person who beneficially owns a membership interest through a voting trust or a nominee on the persons behalf.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603), Sec. 13, eff. September 1, 2019.
Source
Last accessed
Nov. 18, 2019