BILL ANALYSIS
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Senate Research Center |
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AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
H.B. 1624 clarifies that a parent limited liability company is required to file documents with the Office of the Texas Secretary of State acknowledging the formation of a new series.
H.B. 1624 amends current law relating to the assumed name of a series limited liability company.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Section 71.002(2), Business & Commerce Code, as follows:
(2) Provides that "assumed name" means:
(A)-(G) Makes no change to these paragraphs; and
(H) for a limited liability company, a name other than the name stated in its certificate of formation or a comparable document, including the name of any series of the limited liability company established by its company agreement.
SECTION 2. Effective date: September 1, 2013.