Texas Business Organizations Code
Sec. § 101.154
Consent Required to Release Enforceable Obligation


The obligation of a member of a limited liability company, or of the member’s legal representative or successor, to make a contribution or otherwise pay cash or transfer property to the company, or to return cash or property to the company paid or distributed to the member in violation of this code or the company agreement, may be released or settled only by consent of each member of the company.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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Aug. 6, 2020