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Tex. Bus. Orgs. Code § 101.156

REQUIREMENTS TO ENFORCE CONDITIONAL OBLIGATION

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

(a) An obligation of a member of a limited liability company that is subject to a condition may be enforced by the company or a creditor described by Section 101.155 only if the condition is satisfied or waived by or with respect to the member.

(b) A conditional obligation of a member of a limited liability company under this section includes a contribution payable on a discretionary call of the limited liability company before the time the call occurs.

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