101.156 – REQUIREMENTS TO ENFORCE CONDITIONAL OBLIGATION.
Texas Business Organizations Code § 101.156
Summary
This law outlines the conditions under which a limited liability company can enforce a member's conditional obligation. It specifies that the obligation can only be enforced if the condition is met or waived, impacting both the company and its creditors.
Enforcement requires satisfaction or waiver of the condition.
Applies to obligations of limited liability company members.
Includes discretionary contributions callable by the company.
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In simple terms: Learn about Texas's REQUIREMENTS TO ENFORCE CONDITIONAL OBLIGATION. 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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