Texas § BO.101.453 - DEMAND
Full text of Texas The Texas Constitution § BO.101.453 — DEMAND, with citation guidance and answers to common questions.
§ BO.101.453. DEMAND
DEMAND. (a) A member may not institute a derivative proceeding until the 91st day after the date a written demand is filed with the limited liability company stating with particularity the act, omission, or other matter that is the subject of the claim or challenge and requesting that the limited liability company take suitable action. (b) The waiting period required by Subsection (a) before a derivative proceeding may be instituted is not required or, if applicable, shall terminate if: (1) the member has been notified that the demand has been rejected by the limited liability company; (2) the limited liability company is suffering irreparable injury; or (3) irreparable injury to the limited liability company would result by waiting for the expiration of the 90-day period. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006. Amended by: Acts 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603 ), Sec. 15, eff. September 1, 2019.
Frequently Asked Questions About Texas § BO.101.453
What does The Texas Constitution § BO.101.453 cover?
Section BO.101.453 ("DEMAND") is part of the The Texas Constitution, the codified statutory law of Texas. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Texas § BO.101.453?
A common citation format is "The Texas Constitution § BO.101.453" (Texas). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § BO.101.453 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Texas.