Texas Business Organizations Code
Sec. § 101.204
Interim Distributions


A member of a limited liability company, before the winding up of the company, is not entitled to receive and may not demand a distribution from the company until the companys governing authority declares a distribution to:

(1)

each member of the company; or

(2)

a class or group of members that includes the member.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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Last accessed
Dec. 5, 2019