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Texas Business Organizations Code - BUS ORG § 101.603. Assets of Protected Series or Registered Series

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

(a) Assets associated with a protected series or registered series may be held directly or indirectly, including being held in the name of the protected series or registered series, in the name of the limited liability company, through a nominee, or otherwise.

(b) To the extent the records of a protected series or registered series are maintained in a manner so that the assets of the protected series or registered series can be reasonably identified by specific listing, category, type, quantity, or computational or allocational formula or procedure, including a percentage or share of any assets, or by any other method in which the identity of the assets can be objectively determined, the records are considered to satisfy the requirements of Section 101.602(b)(1).

(c) In this subchapter, a reference to:

(1) “assets of a protected series” or “assets of a registered series” includes assets associated with that series;

(2) “assets associated with a protected series” or “assets associated with a registered series” includes assets of that series;

(3) “members or managers of a protected series” or “members or managers of a registered series” includes members or managers associated with that series; and

(4) “members or managers associated with a protected series” or “members or managers associated with a registered series” includes members or managers of that series.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 101.603. Assets of Protected Series or Registered Series - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-101-603/

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