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 company’s governing authority declares a distribution to:


each member of the company; or


a class or group of members that includes the member.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Last accessed
Sep. 23, 2020