The
Texas LLC Requirements for forming a Texas limited liability company
are governed by the Texas Business Organizations Code which was
enacted in 2003 (effective 2006) and, in particular, Title 3 which
is the Texas Limited Liability Company Law.
Texas LLC Names:
The name of a Texas limited
liability company must
contain
the words "limited company"
or
"limited liability company"
or the abbreviation L.C.,
LC, L.L.C.
or LLC.
The Texas LLC requirements mandate that the name must be distinguishable from the name of any
active domestic or
foreign
LLC or corporation filed with the state of Texas or any business
name filed.
Duration:
The Texas LLC Requirements
automatically give a Texas limited liability company perpetual
duration unless a more limited duration is noted in the formation
documents.
Purpose:
The Texas LLC Requirements
require that the Texas limited liability company state a purpose in
its formation documents but the purposes may be broad to include any
lawful business purpose under Texas LLC laws.
Texas Registered Agent
and Office:
Every Texas limited liability
company must have and continually maintain a registered agent and
registered office in Texas. Texas LLC requirements prevent the use
of a business private mail box or a P.O. box for the registered
office (unless the office is in a city with a population of less
than 5,000).
Members: Texas
LLC Requirements allows a Texas LLC to only have 1 Member and there are no
restrictions on who can be a Member. So, any individual,
corporation, trust, partnership or another LLC may be an owner
(Member) of an LLC.
Texas LLC
Operating Agreement:
While Texas LLC Requirements and law do not specifically require a written Operating
Agreement, many of the provisions of the Texas LLC laws contemplate that a Texas
limited liability company have an Operating Agreement. An Operating Agreement is the
most important document for a Texas limited liability company as it establishes the owners of
the LLC and a management structure for an LLC. In some
sections of Texas LLC laws, this agreement is referred to as the
"Company Agreement."
Management: Texas LLC
Requirements mandate that the formation documents of a Texas limited
liability company contain a provision addressing the management
structure. If the Texas limited liability company is member managed,
the names and addresses of the initial members must be included.
If the Texas limited liability company is manager managed, Texas LLC
requirements require that the names and addresses of the managers be
included.