Subscriptions

Sec. 101.1055. SUBSCRIPTIONS. (a) A subscription to purchase a membership interest in a limited liability company in the process of being formed is irrevocable to the extent provided by the terms of the subscription if: (1) the subscription is in writing and signed by the subscriber; and (2) the subscription states that it is irrevocable. (b) A written subscription entered into after the limited liability company is formed is a contract between the subscriber and the company. Added by Acts 2025, 89th Leg., R.S., Ch. 199 (S.B. 2411), Sec. 48, eff. September 1, 2025.