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Texas Statutes (Last Updated: January 4, 2014) |
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BUSINESS ORGANIZATIONS CODE |
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Title 3. LIMITED LIABILITY COMPANIES |
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Chapter 101. LIMITED LIABILITY COMPANIES |
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Subchapter C. MEMBERSHIP |
Sec. 101.103. EFFECTIVE DATE OF MEMBERSHIP
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(a) In connection with the formation of a company, a person becomes a member of the company on the date the company is formed if the person is named as an initial member in the company's certificate of formation.
(b) In connection with the formation of a company, a person being admitted as a member of the company but not named as an initial member in the company's certificate of formation becomes a member of the company on the latest of:
(1) the date the company is formed;
(2) the date stated in the company's records as the date the person becomes a member of the company; or
(3) if the company's records do not state a date described by Subdivision (2), the date the person's admission to the company is first reflected in the company's records.
(c) A person who, after the formation of a limited liability company, acquires directly or is assigned a membership interest in the company or is admitted as a member of the company without acquiring a membership interest becomes a member of the company on approval or consent of all of the company's members.