101.204 – INTERIM DISTRIBUTIONS. A member of a limited
Texas Business Organizations Code § 101.204
Summary
This law specifies that members of a limited liability company cannot demand distributions until authorized by the company's governing authority. It ensures that distributions are made fairly to all members or specific groups before any member can receive their share.
Members cannot demand distributions before company winding up.
Distributions require approval from the governing authority.
All members or specific groups must be included in distributions.
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 INTERIM DISTRIBUTIONS. 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.
FlawFinder provides legal information, not legal advice. Consult a licensed attorney for specific legal guidance.