101.101 – MEMBERS REQUIRED. (a) A limited liability
Texas Business Organizations Code § 101.101
Summary
This law establishes that a limited liability company (LLC) must have at least one member, except during specific transitional periods. It allows for flexibility in membership during the formation of the LLC and the admission of new members.
LLCs must have at least one member under normal circumstances.
Transitional periods allow for no members during formation.
Managers can exist without members temporarily.
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In simple terms: Learn about Texas's MEMBERS REQUIRED. (a) A limited liability law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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