101.611 – MEMBER STATUS WITH RESPECT TO DISTRIBUTION. (a)
Texas Business Organizations Code § 101.611
Summary
This law establishes that members of a protected or registered series have creditor status when entitled to distributions. It ensures that members can seek remedies similar to those available to creditors if distributions are owed to them.
Members gain creditor status for distributions from series.
Members can seek remedies like creditors if distributions are unpaid.
Applies to protected and registered series under this subchapter.
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In simple terms: Learn about Texas's MEMBER STATUS WITH RESPECT TO DISTRIBUTION. (a) 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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