Texas Business Organizations Code
Sec. § 101.203
Sharing of Distributions

Distributions of cash and other assets of a limited liability company shall be made to each member of the company according to the agreed value of the member’s contribution to the company as stated in the company’s records required under Sections 3.151 (Books and Records for All Filing Entities) and 101.501 (Supplemental Records Required for Limited Liability Companies).

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source

Tex. Legislature

Last accessed

Oct. 14, 2020