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Tex. Bus. Orgs. Code § 101.105

ISSUANCE OF MEMBERSHIP INTERESTS AFTER FORMATION OF COMPANY

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff

A limited liability company, after the formation of the company, may:

(1) issue membership interests in the company to any person with the approval of all of the members of the company; and

(2) if the issuance of a membership interest requires the establishment of a new class or group of members or membership interests, establish a new class or group as provided by Sections 101.104(a)(2), (b), and (c).

Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.