Texas § 101.109 RIGHTS AND DUTIES OF ASSIGNEE OF MEMBERSHIP INTEREST BEFORE MEMBERSHIP.

Texas Statutes

§ 101.109 — RIGHTS AND DUTIES OF ASSIGNEE OF MEMBERSHIP INTEREST BEFORE MEMBERSHIP.

Texas § 101.109

Code BOBusiness Organizations Code

This text of Texas § 101.109 (RIGHTS AND DUTIES OF ASSIGNEE OF MEMBERSHIP INTEREST BEFORE MEMBERSHIP.) 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. § 101.109 (2026).

Text

Sec. 101.109. RIGHTS AND DUTIES OF ASSIGNEE OF MEMBERSHIP INTEREST BEFORE MEMBERSHIP.

(a)A person who is assigned a membership interest in a limited liability company is entitled to:

(1)receive any allocation of income, gain, loss, deduction, credit, or a similar item that the assignor is entitled to receive to the extent the allocation of the item is assigned;

(2)receive any distribution the assignor is entitled to receive to the extent the distribution is assigned; and

(3)the rights described by Section 101.502 .

(b)An assignee of a membership interest in a limited liability company is entitled to become a member of the company on the approval of all of the company's members.

(c)An assignee of a membership interest in a limited liability company is not liable as a member of the com

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Sec. 101.109. RIGHTS AND DUTIES OF ASSIGNEE OF MEMBERSHIP INTEREST BEFORE MEMBERSHIP.
(a) A person who is assigned a membership interest in a limited liability company is entitled to:
(1) receive any allocation of income, gain, loss, deduction, credit, or a similar item that the assignor is entitled to receive to the extent the allocation of the item is assigned;
(2) receive any distribution the assignor is entitled to receive to the extent the distribution is assigned; and
(3) the rights described by Section 101.502 .
(b) An assignee of a membership interest in a limited liability company is entitled to become a member of the company on the approval of all of the company's members.
(c) An assignee of a membership interest in a limited liability company is not liable as a member of the company until the assignee becomes a member of the company.

Legislative History

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2025, 89th Leg., R.S., Ch. 199 (S.B. 2411 ), Sec. 49, eff. September 1, 2025.