101.607 – CLASS OR GROUP OF MEMBERS OR MANAGERS. (a) The
Texas Business Organizations Code § 101.607
Summary
This law allows a company agreement to create different classes or groups of members or managers within a protected or registered series. Each class can have specific rights, powers, and duties, including voting rights, which can be defined in the agreement.
Allows creation of member or manager classes in company agreements.
Classes can have specific rights and duties, including voting.
Additional classes can be established as needed.
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In simple terms: Learn about Texas's CLASS OR GROUP OF MEMBERS OR MANAGERS. (a) The 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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