Sec. 101.106. NATURE OF MEMBERSHIP INTEREST. (a) A membership interest in a limited liability company is personal property.
(a-1) A membership interest may be community property under applicable law.
(a-2) A member's right to participate in the management and conduct of the business of the limited liability company is not community property.
(b) A member of a limited liability company or an assignee of a membership interest in a limited liability company does not have an interest in any specific property of the company.
(c) Sections 9.406 and 9.408, Business & Commerce Code, do not apply to a membership interest in a limited liability company, including the rights, powers, and interests arising under the company's certificate of formation or company agreement or under this code. To the extent of any conflict between this subsection and Section 9.406 or 9.408, Business & Commerce Code, this subsection controls. It is the express intent of this subsection to permit the enforcement, as a contract among the members of a limited liability company, of any provision of a company agreement that would otherwise be ineffective under Section 9.406 or 9.408, Business & Commerce Code.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 39, eff. September 1, 2009.
Acts 2011, 82nd Leg., R.S., Ch. 139 (S.B. 748), Sec. 35, eff. September 1, 2011.
Notes of Decisions
Spates v. Off. of Attorney Gen., 485 S.W.3d 546 (Tex. App. 2016).
· cites it 3× “See Tex. Bus. Orgs.Code § 101.106(a), (b). Under the statutory scheme creating the charging order as the exclusive remedy for a judgment creditor seeking satisfaction from a debtor’s membership interest in a limited liability company, the OAG’s ability to collect on its…”
Sherman v. Boston, 486 S.W.3d 88 (Tex. App. 2016).
“See Tex. Bus. Orgs. Code Ann. § 101.106 (b) (West 2012).”
Yaghoub \Jacob\" Kohannim v. Parvaneh Katoli", 440 S.W.3d 798 (Tex. App. 2013).
· cites it 3× “See Tex.Bus. Org.Code Ann. § 101.106(a-l). It is undisputed that Mike’s 50% membership interest in 360 Center was community property and the 322nd District Court awarded the entirety of that membership interest to Parvaneh in the divorce decree.”
Rodriguez v. Cyr (In re Cyr), 602 B.R. 315 (Bankr. W.D. Tex. 2019).
“" Tex. Bus. Org. Code Ann. § 101.106 (b). Therefore, as sole member of OSI, Debtor had no interest in the assets and business transferred from OSI to SA Spine.”
Michele DiBassie v. Damon DiBassie (Tex. App. 2022).
· cites it 3× “See Tex. Bus. Orgs. Code Ann. § 101.106 (b). In issue two, Michele complains that the trial court’s erroneous award of SCS’s equipment to Damon substantially diminished SCS’s value because SCS did not have the necessary machinery, equipment, and tools to bid or work on any…”
— Tex. Bus. Orgs. Code § 101.106(a) — 5 cases
Spates v. Off. of Attorney Gen., 485 S.W.3d 546 (Tex. App. 2016).
“See Tex. Bus. Orgs.Code § 101.106(a), (b). Under the statutory scheme creating the charging order as the exclusive remedy for a judgment creditor seeking satisfaction from a debtor’s membership interest in a limited liability company, the OAG’s ability to collect on its…”
Yaghoub \Jacob\" Kohannim v. Parvaneh Katoli", 440 S.W.3d 798 (Tex. App. 2013).
“See Tex.Bus. Org.Code Ann. § 101.106(a-l). It is undisputed that Mike’s 50% membership interest in 360 Center was community property and the 322nd District Court awarded the entirety of that membership interest to Parvaneh in the divorce decree.”
— Tex. Bus. Orgs. Code § 101.106(b) — 18 cases
Spates v. Off. of Attorney Gen., 485 S.W.3d 546 (Tex. App. 2016).
“See Tex. Bus. Orgs.Code § 101.106(a), (b). Under the statutory scheme creating the charging order as the exclusive remedy for a judgment creditor seeking satisfaction from a debtor’s membership interest in a limited liability company, the OAG’s ability to collect on its…”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.