Texas § 101.106 NATURE OF MEMBERSHIP INTEREST.

Texas Statutes

§ 101.106 — NATURE OF MEMBERSHIP INTEREST.

Texas § 101.106

Code BOBusiness Organizations Code

This text of Texas § 101.106 (NATURE OF MEMBERSHIP INTEREST.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Business Organizations Code Code Ann. § 101.106 (2026).

Text

Sec. 101.106. NATURE OF MEMBERSHIP INTEREST.

(a)A membership interest in a limited liability company is personal property. (a-1) A membership interest may be community property under applicable law. (a-2) A member's right to participate in the management and conduct of the business of the limited liability company is not community property.

(b)A member of a limited liability company or an assignee of a membership interest in a limited liability company does not have an interest in any specific property of the company.

(c)Sections 9.406 and 9.408 , Business & Commerce Code, do not apply to a membership interest in a limited liability company, including the rights, powers, and interests arising under the company's certificate of formation or company agreement or under this code. To the ex

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Sec. 101.106. NATURE OF MEMBERSHIP INTEREST. (a) A membership interest in a limited liability company is personal property.
(a-1) A membership interest may be community property under applicable law.
(a-2) A member's right to participate in the management and conduct of the business of the limited liability company is not community property.
(b) A member of a limited liability company or an assignee of a membership interest in a limited liability company does not have an interest in any specific property of the company.
(c) Sections 9.406 and 9.408 , Business & Commerce Code, do not apply to a membership interest in a limited liability company, including the rights, powers, and interests arising under the company's certificate of formation or company agreement or under this code. To the extent of any conflict between this subsection and Section 9.406 or 9.408 , Business & Commerce Code, this subsection controls. It is the express intent of this subsection to permit the enforcement, as a contract among the members of a limited liability company, of any provision of a company agreement that would otherwise be ineffective under Section 9.406 or 9.408 , Business & Commerce Code.

Legislative History

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442 ), Sec. 39, eff. September 1, 2009. Acts 2011, 82nd Leg., R.S., Ch. 139 (S.B. 748 ), Sec. 35, eff. September 1, 2011.