Texas Business Organizations Code
Sec. § 101.462
Application to Foreign Limited Liability Companies


(a)

In a derivative proceeding brought in the right of a foreign limited liability company, the matters covered by this subchapter are governed by the laws of the jurisdiction of formation of the foreign limited liability company, except for Sections 101.455 (Stay of Proceeding), 101.460 (Discontinuance or Settlement), and 101.461 (Payment of Expenses), which are procedural provisions and do not relate to the internal affairs of the foreign limited liability company, unless applying the laws of the jurisdiction of formation of the foreign limited liability company requires otherwise with respect to Section 101.455 (Stay of Proceeding).

(b)

In the case of matters relating to a foreign limited liability company under Section 101.455 (Stay of Proceeding), a reference to a person or group of persons described by Section 101.454 (Determination by Governing or Independent Persons) refers to a person or group entitled under the laws of the jurisdiction of formation of the foreign limited liability company to make the determination described by Section 101.454 (Determination by Governing or Independent Persons)(a). The standard of review of a determination made by the person or group shall be governed by the laws of the jurisdiction of formation of the foreign limited liability company.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603), Sec. 23, eff. September 1, 2019.
Source
Last accessed
Jan. 23, 2020