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Texas Business Organizations Code - BUS ORG § 101.1055. Subscriptions

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A subscription to purchase a membership interest in a limited liability company in the process of being formed is irrevocable to the extent provided by the terms of the subscription if:

(1) the subscription is in writing and signed by the subscriber;  and

(2) the subscription states that it is irrevocable.

(b) A written subscription entered into after the limited liability company is formed is a contract between the subscriber and the company.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 101.1055. Subscriptions - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-101-1055/

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