101.462 – APPLICATION TO FOREIGN LIMITED LIABILITY
Texas Business Organizations Code § 101.462
Summary
This law outlines that in derivative proceedings involving foreign limited liability companies, the governing laws are those of the company's formation jurisdiction. However, specific procedural provisions from Texas apply regardless of the company's home laws.
Governs derivative proceedings for foreign LLCs.
Applicable laws are from the formation jurisdiction.
Certain Texas procedural provisions apply universally.
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In simple terms: Learn about Texas's APPLICATION TO FOREIGN LIMITED LIABILITY 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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