101.202 – DISTRIBUTION IN KIND. A member of a limited
Texas Business Organizations Code § 101.202
Summary
This law stipulates that members of a limited liability company can only receive distributions in cash, regardless of how they contributed to the company. This affects all members of such companies in Texas, ensuring uniformity in distribution methods.
Members can only demand cash distributions.
Contributions can be in any form, but distributions are cash only.
Affects all limited liability companies in Texas.
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In simple terms: Learn about Texas's DISTRIBUTION IN KIND. A member of a limited 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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