Enacted-Effective 9/1/11: SB 748 -- Effect of death or divorce on LLC interests

Caption: Relating to business entities and associations.
Author: Carona
Bill History
Bill Text

Relevance:  This bill enacts new Section 101.1115 of the Business Organizations Code to provide that, upon the death of a member or a member's spouse or on the divorce of a member, the person receiving an ownership interest in an limited liability company is only an assignee, not a full member.  Assignees are entitled to economic benefits but not voting rights. 

x-Did Not Pass: SB 342 -- Authority of attorney general to make inquiries of charitable entities

Caption:  Relating to the power of the office of the attorney general to make certain examinations and inquiries.
Author:  Carona
Bill History
Bill Text 

Relevance:  This bill would add Section 123.007 to the Property Code, which would permit the attorney general to inspect any record of a charitable entity or trust to require a person suspected of engaging in unlawful acts to file sworn statements and reports or submit to an examination under oath.

x-Did Not Pass: SB 261 -- Perpetuities

Caption: Relating to the rule against perpetuities.
Author:   Carona
Bill History
Bill Text 

Relevance:  HB 372 would modify the rule against perpetuities to permit trusts to last for 200 years.

See "Perpetuities: How about 200 years?" on texasprobate.com.