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Texas Business Organizations Code - BUS ORG § 101.155. Creditor's Right to Enforce Certain Obligations

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

A creditor of a limited liability company who extends credit or otherwise acts in reasonable reliance on an enforceable obligation of a member of the company that is released or settled as provided by Section 101.154 may enforce the original obligation if the obligation is stated in a document that is:

(1) signed by the member;  and

(2) not amended or canceled to evidence the release or settlement of the obligation.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 101.155. Creditor's Right to Enforce Certain Obligations - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-101-155/

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