S.B. No. 1442
1 governing authority of the series, the governing authority of the
2 series consists of:
3 (1) the managers associated with the series, if the
4 company's certificate of formation states that the company will
5 have One of more managers: or
6 (2) the members associated with the series, if the
7 company's certificate of formation states that the company will not
8 have managers.
9 Sec. 101.609. APPLICABILITY OF OT ER PROVISIONS OF CHAPTER:
10 SYNONYMOUS TERMS. (a) To the extent not inconsistent with this
11 subchapter, this chapter applies to a Series and its associated
12 members and managers.
13 (b) For purposes of the application of any other provision
14 of this chapter to a provision of this subchapter, and as the
15 context requires:
16 (1) a reference to "limited liability company" or
17 "company" means the "series";
18 (2) a reference to "member" means "member associated
19 with the series": and
20 (3) a reference to "manager" means "manager associated
21 with the series."
22 Sec. 101.610. EFFECT OF CERTAIN EVENT ON MANAGER OR MEMBER.
23 (a) An event that under this chapter or the company agreement
24 causes a manager to cease to be a manager with respect to a series
25 does 'not, in and of itself, cause the manager to cease to be a
26 manager of the limited liability company or with respect to any
27 other series of the company.
Texas. Legislature. Senate. 81st Texas Legislature, Regular Session, Senate Bill 1442, Chapter 84. [Austin, Texas]. The Portal to Texas History. http://texashistory.unt.edu/ark:/67531/metapth310916/. Accessed July 25, 2014.