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Texas Business Organizations Code - BUS ORG § 101.615. Termination of Protected Series or Registered Series

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

(a) Except as otherwise provided by Sections 101.617, 101.618, 101.619, and 101.620, the protected series terminates on the completion of the winding up of the business and affairs of the protected series in accordance with Sections 101.617, 101.618, 101.619, and 101.620.

(b) Except as otherwise provided by Sections 101.617, 101.618, 101.619, and 101.620, the registered series terminates on:

(1) the completion of the winding up of the business and affairs of the registered series in accordance with Sections 101.617, 101.618, 101.619, and 101.620;  and

(2) the effectiveness of the filing with the secretary of state of a certificate of termination for the registered series.

(c) The limited liability company shall provide notice of the termination of a protected series or registered series in the manner provided in the company agreement for notice of termination, if any.

(d) The termination of the protected series or registered series does not affect the limitation on liabilities of the protected series or registered series provided by Section 101.602.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 101.615. Termination of Protected Series or Registered Series - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-101-615/

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