101.551 – PERSONS ELIGIBLE TO WIND UP COMPANY. After an
Texas Business Organizations Code § 101.551
Summary
This law outlines who is authorized to wind up a limited liability company after a triggering event. It specifies that the governing authority or designated individuals must handle the winding up process unless certain revocations or cancellations occur.
Winding up must be conducted by the governing authority or designated persons.
Applies after specific events trigger the winding up process.
Revocations or cancellations can alter the winding up authority.
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In simple terms: Learn about Texas's PERSONS ELIGIBLE TO WIND UP COMPANY. After an 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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