Section 101.102 - Qualification for Membership(a) A person may be a member of or acquire a membership interest in a limited liability company unless the person lacks capacity apart from this code.(b) A person is not required, as a condition to becoming a member of or acquiring a membership interest in a limited liability company, to:(1) make a contribution to the company;(2) otherwise pay cash or transfer property to the company; or(3) assume an obligation to make a contribution or otherwise pay cash or transfer property to the company.(c) If one or more persons own a membership interest in a limited liability company, the company agreement may provide for a person to be admitted to the company as a member without acquiring a membership interest in the company.Tex. Bus. Org. Code § 101.102
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.Amended by Acts 2005, 79th Leg., Ch. 64, Sec. 71, eff. 1/1/2006.