Texas Disclaimer of All Rights Under Operating Agreement by Party to Agreement

State:
Multi-State
Control #:
US-OG-595
Format:
Word; 
Rich Text
Instant download

Description

This is a form of Disclaimer of All Rights Under an Operating Agreement (by Party to Agreement).

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FAQ

(a) On application by a judgment creditor of a member of a limited liability company or of any other owner of a membership interest in a limited liability company, a court having jurisdiction may charge the membership interest of the judgment debtor to satisfy the judgment.

Right to Examine Records and Certain Other Information. (2) other information regarding the business, affairs, and financial condition of the company that is reasonable for the person to examine and copy.

Section 101.206 - Prohibited Distribution; Duty to Return (a) Unless the distribution is made in compliance with Chapter 11, a limited liability company may not make a distribution to a member of the company if, immediately after making the distribution, the company's total liabilities, other than liabilities described ...

Section 101.112 - Member's Membership Interest Subject to Charging Order (a) On application by a judgment creditor of a member of a limited liability company or of any other owner of a membership interest in a limited liability company, a court having jurisdiction may charge the membership interest of the judgment ...

(a) A membership interest in a limited liability company may be wholly or partly assigned. (C) exercise any rights of a member of the company. Acts 2003, 78th Leg., ch. 182, Sec.

The company agreement of a limited liability company may expand or restrict any duties, including fiduciary duties, and related liabilities that a member, manager, officer, or other person has to the company or to a member or manager of the company.

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Texas Disclaimer of All Rights Under Operating Agreement by Party to Agreement