Texas § 101.451 DEFINITIONS.

Texas Statutes

§ 101.451 — DEFINITIONS.

Texas § 101.451

Code BOBusiness Organizations Code

This text of Texas § 101.451 (DEFINITIONS.) 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. § 101.451 (2026).

Text

Sec. 101.451. DEFINITIONS. In this subchapter:

(1)"Derivative proceeding" means a civil suit in the right of a domestic limited liability company or, to the extent provided by Section 101.462 , in the right of a foreign limited liability company.

(2)"Managing entity" means an entity that is either:

(A)a manager of a limited liability company that is managed by managers; or

(B)a member of a limited liability company that is managed by members who are entitled to manage the company.

(3)"Member" includes a person who is a member or is an assignee of a membership interest or a person who beneficially owns a membership interest through a voting trust or a nominee on the person's behalf.

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Sec. 101.451. DEFINITIONS. In this subchapter:
(1) "Derivative proceeding" means a civil suit in the right of a domestic limited liability company or, to the extent provided by Section 101.462 , in the right of a foreign limited liability company.
(2) "Managing entity" means an entity that is either:
(A) a manager of a limited liability company that is managed by managers; or
(B) a member of a limited liability company that is managed by members who are entitled to manage the company.
(3) "Member" includes a person who is a member or is an assignee of a membership interest or a person who beneficially owns a membership interest through a voting trust or a nominee on the person's behalf.

Legislative History

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. 13, eff. September 1, 2019. Acts 2021, 87th Leg., R.S., Ch. 39 (S.B. 1203 ), Sec. 29, eff. September 1, 2021.