Sec. 101.154. CONSENT REQUIRED TO RELEASE ENFORCEABLE OBLIGATION. The obligation of a member of a limited liability company, or of the member's legal representative or successor, to make a contribution or otherwise pay cash or transfer property to the company, or to return cash or property to the company paid or distributed to the member in violation of this code or the company agreement, may be released or settled only by consent of each member of the company.
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 101.151. Requirements for Enforceable Promise
Section 101.152. Enforceable Promise Not Affected by Change in Circumstances
Section 101.153. Failure to Perform Enforceable Promise; Consequences
Section 101.154. Consent Required to Release Enforceable Obligation
Section 101.155. Creditor's Right to Enforce Certain Obligations
Section 101.156. Requirements to Enforce Conditional Obligation