101.454 – DETERMINATION BY GOVERNING OR INDEPENDENT
Texas Business Organizations Code § 101.454
Summary
This law outlines the process for addressing allegations in derivative proceedings within a limited liability company. It requires a majority vote from independent and disinterested governing persons to determine how to proceed with such allegations.
Requires majority vote from independent governing persons.
Applies to allegations in derivative proceedings.
Independent persons can be less than majority of all governing persons.
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 DETERMINATION BY GOVERNING OR INDEPENDENT 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.