A Texas Disclaimer of All Rights Under Operating Agreement by Party to Agreement is a legal document that allows a party involved in an operating agreement to disclaim or waive all rights they have under the agreement. This disclaimer can be applicable in various scenarios where one party wishes to renounce their rights and obligations outlined in the operating agreement. This disclaimer is specifically tailored to the state of Texas, ensuring compliance with the state's laws and regulations. By signing this document, a party clearly states their intention to relinquish their rights and responsibilities as outlined in the operating agreement. There are different types of Texas Disclaimer of All Rights Under Operating Agreement by Party to Agreement, including: 1. Full Disclaimer: This type of disclaimer declares an individual or entity's complete renouncement of all rights, duties, and privileges bestowed upon them through the operating agreement. It ensures that the party is no longer bound by any terms or provisions of the agreement. 2. Partial Disclaimer: In certain cases, a party may desire to disclaim only specific rights or obligations mentioned in the operating agreement. This type of disclaimer allows the party to specify which rights they wish to waive, while still maintaining other provisions of the agreement. 3. Temporary Disclaimer: This type of disclaimer gives a party the option to temporarily waive their rights under the operating agreement for a specific duration. This allows them to temporarily distance themselves from the responsibilities imposed by the agreement, while reserving the option to reclaim their rights at a later stage. 4. Irrevocable Disclaimer: An irrevocable disclaimer, as the name suggests, is an unconditional and irreversible waiver of all rights by a party. Once this disclaimer is signed, the party cannot revoke or undo their decision, making it a permanent, binding arrangement. It is important to consult with a legal professional when drafting or signing a Texas Disclaimer of All Rights Under Operating Agreement by Party to Agreement, as it involves complex legal considerations. The document should be comprehensive, clearly stating the intentions of the disclaiming party, and should comply with the laws of Texas to ensure its validity.
Texas Disclaimer of All Rights Under Operating Agreement by Party to Agreement
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(a) On application by a judgment creditor of a member of a limited liability company or of any other owner of a membership interest in a limited liability company, a court having jurisdiction may charge the membership interest of the judgment debtor to satisfy the judgment.
Right to Examine Records and Certain Other Information. (2) other information regarding the business, affairs, and financial condition of the company that is reasonable for the person to examine and copy.
Section 101.206 - Prohibited Distribution; Duty to Return (a) Unless the distribution is made in compliance with Chapter 11, a limited liability company may not make a distribution to a member of the company if, immediately after making the distribution, the company's total liabilities, other than liabilities described ...
Section 101.112 - Member's Membership Interest Subject to Charging Order (a) On application by a judgment creditor of a member of a limited liability company or of any other owner of a membership interest in a limited liability company, a court having jurisdiction may charge the membership interest of the judgment ...
(a) A membership interest in a limited liability company may be wholly or partly assigned. (C) exercise any rights of a member of the company. Acts 2003, 78th Leg., ch. 182, Sec.
The company agreement of a limited liability company may expand or restrict any duties, including fiduciary duties, and related liabilities that a member, manager, officer, or other person has to the company or to a member or manager of the company.
