101.106 – NATURE OF MEMBERSHIP INTEREST. (a) A membership
Texas Business Organizations Code § 101.106
Summary
This law defines a membership interest in a limited liability company as personal property, which may also be classified as community property. However, the right to manage the company is not considered community property, impacting how ownership and management rights are treated in legal contexts.
Membership interest is classified as personal property.
May be considered community property under certain laws.
Management rights are not community property.
Frequently Asked Questions
Why Attorneys Choose FlawFinder
Side-by-side with Westlaw and LexisNexis
Feature
FlawFinder
Westlaw
LexisNexis
Monthly price
$19 - $99
$133 - $646
$153 - $399
Contract
None
1-3 year min
1-6 year min
Hidden fees
$0, always
Up to $469/search
$25/mo + per-doc
Police SOPs
✓ 310+ departments
✗
✗
Zero-hallucination AI
✓ CitationGuard
✗
✗
Cancel
One click
Termination fees
No option to cancel
Explain Like I'm 5
In simple terms: Learn about Texas's NATURE OF MEMBERSHIP INTEREST. (a) A membership law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.