101.452 – STANDING TO BRING PROCEEDING. (a) Subject to
Texas Business Organizations Code § 101.452
Summary
This law outlines the requirements for a member of a limited liability company to initiate a derivative proceeding. It ensures that only members who were part of the company at the time of the alleged wrongdoing can bring a lawsuit on behalf of the company, thereby protecting the interests of the LLC.
Members must be part of the LLC during the alleged wrongdoing.
Members can also join by operation of law from a prior member.
The member must adequately represent the LLC's interests.
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 STANDING TO BRING PROCEEDING. (a) Subject to 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.