Bill Text: TX SB2314 | 2023-2024 | 88th Legislature | Comm Sub

NOTE: There are more recent revisions of this legislation. Read Latest Draft

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Bill Title: Relating to a membership interest in a limited liability company subject to a charging order.

Spectrum: Partisan Bill (Republican 2-0)

Status: (Passed) 2023-06-18 - Effective on 9/1/23 [SB2314 Detail]

Download: Texas-2023-SB2314-Comm_Sub.html

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By: Hughes S.B. No. 2314
(In the Senate - Filed March 10, 2023; March 22, 2023, read
first time and referred to Committee on Business & Commerce;
April 26, 2023, reported favorably by the following vote: Yeas 11,
Nays 0; April 26, 2023, sent to printer.)
Click here to see the committee vote

A BILL TO BE ENTITLED
AN ACT
relating to a membership interest in a limited liability company
subject to a charging order.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 101.112, Business Organizations Code, is
amended by adding Subsection (g) to read as follows:
(g) This section applies to both single-member limited
liability companies and multiple-member limited liability
companies.
SECTION 2. The change in law made by this Act is intended
only to clarify existing law with respect to the applicability of
charging orders to limited liability companies.
SECTION 3. This Act takes effect September 1, 2023.
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