By: Cortez (Senate Sponsor - Van de Putte) H.B. No. 1624

(In the Senate - Received from the House April 29, 2013; April 30, 2013, read first time and referred to Committee on Business and Commerce; May 7, 2013, reported favorably by the following vote: Yeas 7, Nays 0; May 7, 2013, sent to printer.)

A BILL TO BE ENTITLED

AN ACT

relating to the assumed name of a series limited liability company.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 71.002(2), Business & Commerce Code, is amended to read as follows:

(2) "Assumed name" means:

(A) for an individual, a name that does not include the surname of the individual;

(B) for a partnership, a name that does not include the surname or other legal name of each joint venturer or general partner;

(C) for an individual or a partnership, a name, including a surname, that suggests the existence of additional owners by including words such as "Company," "& Company," "& Son," "& Sons," "& Associates," "Brothers," and similar words, but not words that merely describe the business being conducted or the professional service being rendered;

(D) for a limited partnership, a name other than the name stated in its certificate of formation;

(E) for a company, a name used by the company;

(F) for a corporation, a name other than the name stated in its certificate of formation or a comparable document;

(G) for a limited liability partnership, a name other than the name stated in its application filed with the office of the secretary of state or a comparable document; 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. This Act takes effect September 1, 2013.

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