Texas § 101.621 WINDING UP BY COURT ORDER.

Texas Statutes

§ 101.621 — WINDING UP BY COURT ORDER.

Texas § 101.621

Code BOBusiness Organizations Code

This text of Texas § 101.621 (WINDING UP BY COURT ORDER.) 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. § 101.621 (2026).

Text

Sec. 101.621. WINDING UP BY COURT ORDER. A district court in the county in which the registered office or principal place of business in this state of a domestic limited liability company is located, on application by or for a member associated with a protected series or registered series of the company, has jurisdiction to order the winding up and termination of the protected series or registered series if the court determines that:

(1)it is not reasonably practicable to carry on the business of the protected series or registered series in conformity with the company agreement;

(2)the economic purpose of the protected series or registered series is likely to be unreasonably frustrated; or

(3)another member associated with the protected series or registered series has engaged in conduct

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Sec. 101.621. WINDING UP BY COURT ORDER. A district court in the county in which the registered office or principal place of business in this state of a domestic limited liability company is located, on application by or for a member associated with a protected series or registered series of the company, has jurisdiction to order the winding up and termination of the protected series or registered series if the court determines that:
(1) it is not reasonably practicable to carry on the business of the protected series or registered series in conformity with the company agreement;
(2) the economic purpose of the protected series or registered series is likely to be unreasonably frustrated; or
(3) another member associated with the protected series or registered series has engaged in conduct relating to the protected series' or registered series' business that makes it not reasonably practicable to carry on the business with that member.

Legislative History

Added by Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442 ), Sec. 45, eff. September 1, 2009. Amended by: Acts 2019, 86th Leg., R.S., Ch. 658 (S.B. 1859 ), Sec. 11, eff. September 1, 2019. Acts 2021, 87th Leg., R.S., Ch. 43 (S.B. 1523 ), Sec. 1, eff. June 1, 2022.