1. (a) A person may be a member of or acquire a membership interest in a limited liability company unless the person lacks capacity apart from this code.

2. (b) A person is not required, as a condition to becoming a member of or acquiring a membership interest in a limited liability company, to:

   1. (1) make a contribution to the company;
   2. (2) otherwise pay cash or transfer property to the company; or
   3. (3) assume an obligation to make a contribution or otherwise pay cash or transfer property to the company.
3. (c) If one or more persons own a membership interest in a limited liability company, the company agreement may provide for a person to be admitted to the company as a member without acquiring a membership interest in the company.

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 71, eff. January 1, 2006.