Texas § BO.101.616 - EVENT REQUIRING WINDING UP
Full text of Texas The Texas Constitution § BO.101.616 — EVENT REQUIRING WINDING UP, with citation guidance and answers to common questions.
§ BO.101.616. EVENT REQUIRING WINDING UP
EVENT REQUIRING WINDING UP. Subject to Sections 101.617 , 101.618 , 101.619 , and 101.620 , the business and affairs of a protected series or registered series are required to be wound up: (1) if the winding up of the limited liability company is required under Section 101.552 (a) or Chapter 11 ; or (2) on the earlier of: (A) the time specified for winding up the protected series or registered series in the company agreement; (B) the occurrence of an event specified with respect to the protected series or registered series in the company agreement; (C) the occurrence of a majority vote of all of the members associated with the protected series or registered series approving the winding up of the protected series or registered series or, if there is more than one class or group of members associated with the protected series or registered series, a majority vote of the members of each class or group of members associated with the protected series or registered series approving the winding up of the protected series or registered series; (D) if the protected series or registered series has no members, the occurrence of a majority vote of all of the managers associated with the protected series or registered series approving the winding up of the protected series or registered series or, if there is more than one class or group of managers associated with the protected series or registered series, a majority vote of the managers of each class or group of managers associated with the protected series or registered series approving the winding up of the protected series or registered series; or (E) a determination by a court in accordance with Section 101.621 . Added by Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442 ), Sec. 45, eff. September 1, 2009. Amended by: Acts 2021, 87th Leg., R.S., Ch. 43 (S.B. 1523 ), Sec. 1, eff. June 1, 2022.
Frequently Asked Questions About Texas § BO.101.616
What does The Texas Constitution § BO.101.616 cover?
Section BO.101.616 ("EVENT REQUIRING WINDING UP") 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.101.616?
A common citation format is "The Texas Constitution § BO.101.616" (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.101.616 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.