Texas Business Organizations Code
Sec. § 101.002
Applicability of Other Laws


(a)

Subject to Section 101.114 (Liability for Obligations), Sections 21.223 (Limitation of Liability for Obligations), 21.224 (Preemption of Liability), 21.225 (Exceptions to Limitations), and 21.226 (Pledgees and Trust Administrators) apply to a limited liability company and the company’s members, owners, assignees, affiliates, and subscribers.

(b)

For purposes of the application of Subsection (a):

(1)

a reference to “shares” includes “membership interests”;

(2)

a reference to “holder,” “owner,” or “shareholder” includes a “member” and an “assignee”;

(3)

a reference to “corporation” or “corporate” includes a “limited liability company”;

(4)

a reference to “directors” includes “managers” of a manager-managed limited liability company and “members” of a member-managed limited liability company;

(5)

a reference to “bylaws” includes “company agreement”; and

(6)

the reference to “Sections 21.157-21.162” in Section 21.223 (Limitation of Liability for Obligations)(a)(1) refers to the provisions of Subchapter D of this chapter.
Added by Acts 2011, 82nd Leg., R.S., Ch. 25 (S.B. 323), Sec. 1, eff. September 1, 2011.
Source
Last accessed
Aug. 12, 2020