Sec. 101.105. ISSUANCE OF MEMBERSHIP INTERESTS AFTER FORMATION OF COMPANY. A limited liability company, after the formation of the company, may:
(1) issue membership interests in the company to any person with the approval of all of the members of the company; and
(2) if the issuance of a membership interest requires the establishment of a new class or group of members or membership interests, establish a new class or group as provided by Sections 101.104(a)(2), (b), and (c).
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Title 3 - Limited Liability Companies
Chapter 101 - Limited Liability Companies
Section 101.101. Members Required
Section 101.102. Qualification for Membership
Section 101.103. Effective Date of Membership
Section 101.104. Classes or Groups of Members or Membership Interests
Section 101.105. Issuance of Membership Interests After Formation of Company
Section 101.106. Nature of Membership Interest
Section 101.107. Withdrawal or Expulsion of Member Prohibited
Section 101.108. Assignment of Membership Interest
Section 101.109. Rights and Duties of Assignee of Membership Interest Before Membership
Section 101.110. Rights and Liabilities of Assignee of Membership Interest After Becoming Member
Section 101.111. Rights and Duties of Assignor of Membership Interest
Section 101.1115. Effect of Death or Divorce on Membership Interest
Section 101.112. Member's Membership Interest Subject to Charging Order