11.314 – INVOLUNTARY WINDING UP AND TERMINATION OF
Texas Business Organizations Code § 11.314
Summary
This law allows a district court to order the involuntary winding up and termination of a domestic partnership or limited liability company if an owner applies for it. The court must find specific grounds for this action, affecting the business's ability to operate legally.
Court can terminate partnerships or LLCs upon owner application.
Jurisdiction is based on the location of the business.
Specific grounds must be established for winding up.
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In simple terms: Learn about Texas's INVOLUNTARY WINDING UP AND TERMINATION OF 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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