Texas Statutes (Last Updated: January 4, 2014) |
BUSINESS ORGANIZATIONS CODE |
Title 3. LIMITED LIABILITY COMPANIES |
Chapter 101. LIMITED LIABILITY COMPANIES |
Subchapter J. DERIVATIVE PROCEEDINGS |
Sec. 101.457. TOLLING OF STATUTE OF LIMITATIONS
Latest version.
-
A written demand filed with the limited liability company under Section 101.453 tolls the statute of limitations on the claim on which demand is made until the earlier of:
(1) the 91st day after the date of the demand; or
(2) the 31st day after the date the limited liability company advises the member that the demand has been rejected or the review has been completed.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.