Sec. 101.155. CREDITOR'S RIGHT TO ENFORCE CERTAIN OBLIGATIONS. A creditor of a limited liability company who extends credit or otherwise acts in reasonable reliance on an enforceable obligation of a member of the company that is released or settled as provided by Section 101.154 may enforce the original obligation if the obligation is stated in a document that is:
(1) signed by the member; and
(2) not amended or canceled to evidence the release or settlement of the obligation.
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