Except as and to the extent the company agreement specifically provides otherwise, a member or manager is not liable for a debt, obligation, or liability of a limited liability company, including a debt, obligation, or liability under a judgment, decree, or order of a court.
Tex. Bus. Orgs. Code § 101.114
LIABILITY FOR OBLIGATIONS
Applied in 2 court decisions — leading case Chico Auto Parts & Service, Inc. v. Crockett (2017)
Most recently applied in Chico Auto Parts & Service, Inc. v. Crockett (January 2017)
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.