Texas § 101.616 EVENT REQUIRING WINDING UP.

Texas Statutes

§ 101.616 — EVENT REQUIRING WINDING UP.

Texas § 101.616

Code BOBusiness Organizations Code

This text of Texas § 101.616 (EVENT REQUIRING WINDING UP.) 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. § 101.616 (2026).

Text

Sec. 101.616. EVENT REQUIRING WINDING UP. Subject to Sections 101.617 , 101.618 , 101.619 , and 101.620 , the business and affairs of a protected series or registered series are required to be wound up:

(1)if the winding up of the limited liability company is required under Section 101.552 (a) or Chapter 11 ; or

(2)on the earlier of:

(A)the time specified for winding up the protected series or registered series in the company agreement;

(B)the occurrence of an event specified with respect to the protected series or registered series in the company agreement;

(C)the occurrence of a majority vote of all of the members associated with the protected series or registered series approving the winding up of the protected series or registered series or, if there is more than one class or grou

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 101.616. EVENT REQUIRING WINDING UP. Subject to Sections 101.617 , 101.618 , 101.619 , and 101.620 , the business and affairs of a protected series or registered series are required to be wound up:
(1) if the winding up of the limited liability company is required under Section 101.552 (a) or Chapter 11 ; or
(2) on the earlier of:
(A) the time specified for winding up the protected series or registered series in the company agreement;
(B) the occurrence of an event specified with respect to the protected series or registered series in the company agreement;
(C) the occurrence of a majority vote of all of the members associated with the protected series or registered series approving the winding up of the protected series or registered series or, if there is more than one class or group of members associated with the protected series or registered series, a majority vote of the members of each class or group of members associated with the protected series or registered series approving the winding up of the protected series or registered series;
(D) if the protected series or registered series has no members, the occurrence of a majority vote of all of the managers associated with the protected series or registered series approving the winding up of the protected series or registered series or, if there is more than one class or group of managers associated with the protected series or registered series, a majority vote of the managers of each class or group of managers associated with the protected series or registered series approving the winding up of the protected series or registered series; or
(E) a determination by a court in accordance with Section 101.621 .

Legislative History

Added by Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442 ), Sec. 45, eff. September 1, 2009. Amended by: Acts 2021, 87th Leg., R.S., Ch. 43 (S.B. 1523 ), Sec. 1, eff. June 1, 2022.