Sec. 101.459. ALLEGATIONS AFTER DEMAND REJECTED. If a derivative proceeding is instituted after a demand is rejected, the petition must allege with particularity facts that establish that the rejection was not made in accordance with the requirements and standards under Sections 101.454 and 101.458.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603), Sec. 21, eff. September 1, 2019.
Structure Texas Statutes
Title 3 - Limited Liability Companies
Chapter 101 - Limited Liability Companies
Subchapter J. Derivative Proceedings
Section 101.452. Standing to Bring Proceeding
Section 101.454. Determination by Governing or Independent Persons
Section 101.455. Stay of Proceeding
Section 101.457. Tolling of Statute of Limitations
Section 101.458. Dismissal of Derivative Proceeding
Section 101.459. Allegations After Demand Rejected
Section 101.460. Discontinuance or Settlement
Section 101.461. Payment of Expenses
Section 101.462. Application to Foreign Limited Liability Companies