Sec. 101.203. SHARING OF DISTRIBUTIONS. Distributions of cash and other assets of a limited liability company shall be made to each member of the company according to the agreed value of the member's contribution to the company as stated in the company's records required under Sections 3.151 and 101.501.
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
Subchapter E. Allocations and Distributions
Section 101.201. Allocation of Profits and Losses
Section 101.202. Distribution in Kind
Section 101.203. Sharing of Distributions
Section 101.204. Interim Distributions
Section 101.205. Distribution on Withdrawal
Section 101.206. Prohibited Distribution; Duty to Return
Section 101.207. Creditor Status With Respect to Distribution