Texas Statutes (Last Updated: January 4, 2014) |
BUSINESS ORGANIZATIONS CODE |
Title 3. LIMITED LIABILITY COMPANIES |
Chapter 101. LIMITED LIABILITY COMPANIES |
Subchapter I. MODIFICATION OF DUTIES; INDEMNIFICATION |
Sec. 101.401. EXPANSION OR RESTRICTION OF DUTIES AND LIABILITIES
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The company agreement of a limited liability company may expand or restrict any duties, including fiduciary duties, and related liabilities that a member, manager, officer, or other person has to the company or to a member or manager of the company.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.