Texas Codes
Tex. Bus. Orgs. Code § 101.205 (2026)
Distribution On Withdrawal
✓ current as of May 2026
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Sec. 101.205. DISTRIBUTION ON WITHDRAWAL. A member of a limited liability company who validly exercises the member's right to withdraw from the company granted under the company agreement is entitled to receive, within a reasonable time after the date of withdrawal, the fair value of the member's interest in the company as determined as of the date of withdrawal.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Notes of Decisions
Cited in 1
case, 2014–2014 · leading case: Michael R. Harris v. Charles Kennebrew, Sr. & Elite Prot. Servs., LLC, 425 S.W.3d 588 (Tex. App. 2014).
Michael R. Harris v. Charles Kennebrew, Sr. & Elite Prot. Servs., LLC, 425 S.W.3d 588 (Tex. App. 2014). “See Tex. Bus. Orgs. Code Ann. § 101.205 (West 2012).”
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