101.203 – SHARING OF DISTRIBUTIONS. Distributions of cash
Texas Business Organizations Code § 101.203
Summary
This law mandates that cash and asset distributions in a limited liability company must be allocated to members based on the agreed value of their contributions. It ensures that all members receive a fair share according to their investment as documented in the company's records.
Distributions must reflect the agreed value of contributions.
Applies to cash and other asset distributions.
Members' contributions must be documented in company records.
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In simple terms: Learn about Texas's SHARING OF DISTRIBUTIONS. Distributions of cash 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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