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Texas Business Organizations Code - BUS ORG § 101.207. Creditor Status with Respect to Distribution

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

Subject to Sections 11.053 and 101.206, when a member of a limited liability company is entitled to receive a distribution from the company, the member, with respect to the distribution, has the same status as a creditor of the company and is entitled to any remedy available to a creditor of the company.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 101.207. Creditor Status with Respect to Distribution - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-101-207/

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