Texas Codes
Tex. Bus. Orgs. Code § 101.204 (2026)
Interim Distributions
✓ current as of May 2026
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Sec. 101.204. INTERIM DISTRIBUTIONS. A member of a limited liability company, before the winding up of the company, is not entitled to receive and may not demand a distribution from the company until the company's governing authority declares a distribution to:
(1) each member of the company; or
(2) a class or group of members that includes the member.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Notes of Decisions
Cited in 1
case (1 in the last 5 years), 2023–2023 · leading case: Bay Area RV Parks. L.L.C. & Charles E. Simmons v. WGB RV Parks L.L.C., Judston F. Welling & Johnathan D. Gibbs (Tex. App. 2023).
Bay Area RV Parks. L.L.C. & Charles E. Simmons v. WGB RV Parks L.L.C., Judston F. Welling & Johnathan D. Gibbs (Tex. App. 2023). “TEX. BUS. ORGS. CODE § 101.204. This provision may, however, be modified by an LLC’s company agreement.”
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