 |
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. 101.462. APPLICATION TO FOREIGN LIMITED LIABILITY COMPANIES
-
(a) In a derivative proceeding brought in the right of a foreign limited liability company, the matters covered by this subchapter are governed by the laws of the jurisdiction of organization of the foreign limited liability company, except for Sections 101.455, 101.460, and 101.461, which are procedural provisions and do not relate to the internal affairs of the foreign limited liability company.
(b) In the case of matters relating to a foreign limited liability company under Section 101.454, a reference to a person or group of persons described by that section refers to a person or group entitled under the laws of the jurisdiction of organization of the foreign limited liability company to review and dispose of a derivative proceeding. The standard of review of a decision made by the person or group to dismiss the derivative proceeding shall be governed by the laws of the jurisdiction of organization of the foreign limited liability company.