Updates and modernizes laws that govern formation, governance, operations and conversion of limited liability companies in this state and relations among members, managers and third parties with respect to limited liability companies in this state.

Statutes affected:
Introduced: 33.025, 56.014, 56.016, 56.022, 56.023, 56.037, 56.110, 56.140, 60.001, 60.470, 60.752, 60.754, 60.756, 60.758, 60.760, 60.764, 62.015, 62.605, 65.001, 67.340, 70.005, 70.500, 93.269, 314.840, 401.690, 648.005, 648.081, 656.735, 657.044, 696.030, 701.160, 707.007, 709.015, 713.140, 713.200, 726.050