Tex. Business Organizations Code § 11.001
This is the official text of Tex. Business Organizations Code § 11.001, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 11.001. DEFINITIONS.
Official statutory text
In this chapter:
(1) "Claim" means a right to payment, damages, or property, whether liquidated or unliquidated, accrued or contingent, matured or unmatured.
(2) "Event requiring a winding up" or "event requiring winding up" means an event specified by Section 11.051.
(3) "Existing claim" with respect to an entity means:
(A) a claim that existed before the entity's termination and is not barred by limitations; or
(B) a claim that exists after the entity's termination and before the third anniversary of the date of the entity's termination and is not barred by limitations, including a claim under a contractual or other obligation incurred after termination.
(4) "Terminated entity" means a domestic entity the existence of which has been:
(A) terminated in a manner authorized or required by this code, unless the entity has been reinstated in the manner provided by this code; or
(B) forfeited pursuant to the Tax Code, unless the forfeiture has been set aside.
(5) "Terminated filing entity" means a terminated entity that is a filing entity.
(6) "Voluntary decision to wind up" means the determination to wind up a domestic entity made by the domestic entity or the owners, members, or governing authority of the domestic entity in the manner specified by:
(A) the title of this code governing the domestic entity; or
(B) if applicable to the domestic entity, Section 11.057(a) or (b) or 11.058(a).
(7) "Voluntary winding up" means winding up as a result of a voluntary decision to wind up.
(8) "Winding up" means the process of winding up the business and affairs of a domestic entity as a result of the occurrence of an event requiring winding up.
(1) "Claim" means a right to payment, damages, or property, whether liquidated or unliquidated, accrued or contingent, matured or unmatured.
(2) "Event requiring a winding up" or "event requiring winding up" means an event specified by Section 11.051.
(3) "Existing claim" with respect to an entity means:
(A) a claim that existed before the entity's termination and is not barred by limitations; or
(B) a claim that exists after the entity's termination and before the third anniversary of the date of the entity's termination and is not barred by limitations, including a claim under a contractual or other obligation incurred after termination.
(4) "Terminated entity" means a domestic entity the existence of which has been:
(A) terminated in a manner authorized or required by this code, unless the entity has been reinstated in the manner provided by this code; or
(B) forfeited pursuant to the Tax Code, unless the forfeiture has been set aside.
(5) "Terminated filing entity" means a terminated entity that is a filing entity.
(6) "Voluntary decision to wind up" means the determination to wind up a domestic entity made by the domestic entity or the owners, members, or governing authority of the domestic entity in the manner specified by:
(A) the title of this code governing the domestic entity; or
(B) if applicable to the domestic entity, Section 11.057(a) or (b) or 11.058(a).
(7) "Voluntary winding up" means winding up as a result of a voluntary decision to wind up.
(8) "Winding up" means the process of winding up the business and affairs of a domestic entity as a result of the occurrence of an event requiring winding up.
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