Texas § 101.111 RIGHTS AND DUTIES OF ASSIGNOR OF MEMBERSHIP INTEREST.

Texas Statutes

§ 101.111 — RIGHTS AND DUTIES OF ASSIGNOR OF MEMBERSHIP INTEREST.

Texas § 101.111

Code BOBusiness Organizations Code

This text of Texas § 101.111 (RIGHTS AND DUTIES OF ASSIGNOR 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. § 101.111 (2026).

Text

Sec. 101.111. RIGHTS AND DUTIES OF ASSIGNOR OF MEMBERSHIP INTEREST.

(a)An assignor of a membership interest in a limited liability company continues to be a member of the company and is entitled to exercise any unassigned rights or powers of a member of the company until the assignee becomes a member of the company.

(b)An assignor of a membership interest in a limited liability company is not released from the assignor's liability to the company, regardless of whether the assignee of the membership interest becomes a member of the company.

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Sec. 101.111. RIGHTS AND DUTIES OF ASSIGNOR OF MEMBERSHIP INTEREST. (a) An assignor of a membership interest in a limited liability company continues to be a member of the company and is entitled to exercise any unassigned rights or powers of a member of the company until the assignee becomes a member of the company.
(b) An assignor of a membership interest in a limited liability company is not released from the assignor's liability to the company, regardless of whether the assignee of the membership interest becomes a member of the company.