Tex. Business Organizations Code § 101.207
This is the official text of Tex. Business Organizations Code § 101.207, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 101.207. CREDITOR STATUS WITH RESPECT TO DISTRIBUTION.
Official statutory text
Subject to Sections 11.053 and 101.206, when a member of a limited liability company is entitled to receive a distribution from the company, the member, with respect to the distribution, has the same status as a creditor of the company and is entitled to any remedy available to a creditor of the company.
Status: in_force · Read it on the official government site
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