Sec. 101.105. ISSUANCE OF MEMBERSHIP INTERESTS AFTER FORMATION OF COMPANY. A limited liability company, after the formation of the company, may:
(1) issue membership interests in the company to any person with the approval of all of the members of the company; and
(2) if the issuance of a membership interest requires the establishment of a new class or group of members or membership interests, establish a new class or group as provided by Sections 101.104(a)(2), (b), and (c).
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
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