Tex. Business Organizations Code § 101.619
This is the official text of Tex. Business Organizations Code § 101.619, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 101.619. CANCELLATION OF EVENT REQUIRING WINDING UP.
Official statutory text
(a) Unless the cancellation is prohibited by the company agreement, an event requiring winding up of the protected series or registered series under Section 101.616(2)(A) or (B) may be canceled by the consent of all of the members of the protected series or registered series before the termination of the protected series or registered series takes effect.
(b) In connection with the cancellation, the members must amend the company agreement to:
(1) eliminate or extend the time specified for the protected series or registered series if the event requiring winding up of the protected series or registered series occurred under Section 101.616(2)(A); or
(2) eliminate or revise the event specified with respect to the protected series or registered series if the event requiring winding up of the protected series or registered series occurred under Section 101.616(2)(B).
(b) In connection with the cancellation, the members must amend the company agreement to:
(1) eliminate or extend the time specified for the protected series or registered series if the event requiring winding up of the protected series or registered series occurred under Section 101.616(2)(A); or
(2) eliminate or revise the event specified with respect to the protected series or registered series if the event requiring winding up of the protected series or registered series occurred under Section 101.616(2)(B).
Status: in_force · Read it on the official government site
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