News & Analysis as of

Texas Limited Liability Company (LLC)

Bradley Arant Boult Cummings LLP

The Potential Double Whammy: Will the Company Have to Pay the Legal Fees of Disloyal Former Insiders If the Company Sues Them?

In a real-life case of adding insult to financial injury, companies harmed by the disloyal actions of their former partners, officers, managers or employees (the “former insiders”) may also have to pay their legal fees when...more

Hendershot Cowart P.C.

Texas LLCs, Corporations: Act Now to Secure New Business Protections from 2025 Legislative Reforms

Hendershot Cowart P.C. on

Major changes to Texas Business Organizations Code enacted during this summer’s legislative session provide unprecedented protection for management decisions and business disputes – but only if you amend your governing...more

Jackson Walker

Texas Business Court Denies Severance in Multi-LLC Dispute—Signals Broad View of Jurisdiction

Jackson Walker on

In a recent decision out of the Texas Business Court’s Eleventh Division—Kassam v. Dosani, Cause No. 24-BC11A-0021—the court refused to let defendants fracture a complex business dispute into smaller pieces. The result? A...more

Jackson Walker

Texas Business Court Asserts Jurisdiction in $95 Million Texas Lottery Dispute

Jackson Walker on

A recent decision from the Texas Business Court, Reed v. Rook TX, LP, centers on a dramatic claim: Jerry Reed, who “won a $7.5 million Lotto Texas jackpot in May 2023,” alleges that “his winnings would have been $95 million...more

Husch Blackwell LLP

Recent Changes to Texas Corporate Laws Could Make the State a More Attractive Choice for Entity Formation and Re-domestication of...

Husch Blackwell LLP on

The Texas legislature concluded its 89th Regular Session on June 2, 2025. During the session, the energy industry paid significant attention to legislative actions impacting the power industry in the areas of grid management,...more

Hendershot Cowart P.C.

Shielding Your Assets: How Texas LLC Owners Can Protect Against Veil-Piercing Claims

As a Texas LLC owner, member, or manager, you've made a strategic choice to separate your business and personal finances through a limited liability company structure. This critical legal barrier provides valuable protection,...more

Akin Gump Strauss Hauer & Feld LLP

Texas Enacts New Pro-Business Law to Expand Its Appeal as a Hub for Business Incorporations

On May 14, 2025, Gov. Greg Abbott (R-TX) signed Texas Senate Bill 29 (SB29) into law. This legislation introduces notable amendments to the Texas Business Organizations Code (TBOC) and is part of a broader strategy to...more

Bradley Arant Boult Cummings LLP

New Formation and Governance Considerations: Taking Advantage of Texas SB 29

Texas Gov. Greg Abbott signed into law Senate Bill 29 (SB 29) on May 14, 2025. SB 29 amends the Texas Business Organizations Code’s (TBOC) provisions regarding corporate governance, director and officer liability, shareholder...more

Jackson Walker

Business Court of Texas Rebuffs Member’s Duty Claim, Reaffirms Freedom of Contract in LLC Agreement

Jackson Walker on

A recent opinion from the Business Court of Texas, Eighth Division (Fort Worth), provides a crisp reminder that an LLC’s company agreement can all but eliminate fiduciary duties among its members and managers. In Tall v....more

Hendershot Cowart P.C.

Texas Senate Bill 29: New Business Liability Protections and Governance Reforms for SMBs

Hendershot Cowart P.C. on

Texas Senate Bill 29 (SB 29), signed into law by Governor Abbott on May 14, 2025, and effective immediately, introduces substantial changes to the Texas Business Organizations Code that affect how businesses operate in the...more

Freeman Law

Can Texas Plaintiffs Serve Process on the Home-State Registered Agents of Out-of-State Defendants?

Freeman Law on

An analysis of Lawton Candle v. BG Personnel LP and Texas Rule of Civil Procedure 108. In a recent case, Lawton Candle v. BG Personnel LP, the Dallas Court of Appeals overturned a default judgment against an Oklahoma LLC...more

Foley & Lardner LLP

Passage of Senate Bill 29 Positions Texas as a Leading State for Incorporations

Foley & Lardner LLP on

On May 7, 2025, the Texas Legislature passed Senate Bill No. 29, which introduces a series of corporate reforms that aim to make Texas the preferred jurisdiction for legal domestication. Because S.B. 29 received a 2/3rd...more

Holland & Hart LLP

Georgia-Pacific Ruling Furthers Texas Two-Step Challenges

Holland & Hart LLP on

The U.S. Court of Appeals for the Fourth Circuit recently approved injunctive relief as part of a strategy for settling mass tort claims through the Chapter 11 bankruptcy case of Bestwall LLC, an entity created by...more

Foley & Lardner LLP

Texas Legislature Passes Bill Creating Specialized Business Trial Courts: 12 Things You Need To Know Now

Foley & Lardner LLP on

On May 25, 2023, the Texas Legislature passed HB 19, legislation that creates specialized business courts. The bill now will make its way to the Governor’s desk for consideration. Here is what you need to know now:...more

Hendershot Cowart P.C.

Shareholder Access to Books & Records in Texas – What Are My Rights?

Hendershot Cowart P.C. on

Under Texas law, a member of a limited liability company (LLC) or a qualifying shareholder of a corporation has the right to examine the company’s books and records, so long as there is a proper purpose. This right is...more

Freeman Law

Texas Series LLCs & Recent Changes to The Texas Business Organizations Code

Freeman Law on

Texas Series LLCs & Recent Changes to The Texas Business Organizations Code - The 2021 Texas Legislature made significant changes to statutory provisions governing Series Limited Liability Companies. Largely, they make Texas...more

Bradley Arant Boult Cummings LLP

Derivative Lawsuits by Private Company Minority Owners: Procedures for Protecting the Company from Insider Misconduct

By definition, a minority owner in a private company does not have control over the business or the right to make decisions for the company. But minority owners do have legal recourse when the company’s majority owners –...more

Gray Reed

2021 TBOC Changes: What Does This Mean for Texas Partnerships, Corporations, and LLCs?

Gray Reed on

The Texas Legislature, during its 87th Regular Session, passed several bills with direct implications for Texas partnerships, corporations, and limited liability companies. Below are some of the key changes for Texas...more

Jackson Walker

New Texas Business Organizations Code Legislation for 2021

Jackson Walker on

Several key bills amending the Texas Business Organizations Code (TBOC) and Texas Business & Commerce Code (TBCC) were passed in the 87th Texas Legislature, Regular Session (the “2021 Legislative Session”), which convened on...more

Winstead PC

Navigating Safe Harbors: Review of the Protections Provided to Governing Persons by the Texas Interested Party Statute and the...

Winstead PC on

Under Texas law, when the owners of closely held companies have co-investors, they need to exercise care in managing their business. This need for caution is due in large part to a Texas statute that makes it easier for...more

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