2015 Texas Legislative Update on Entity Law

This article summarizes several pieces of legislation passed by the Texas Legislature in its 2015 Regular Session that amend primarily the Texas Business Organizations Code (the “Code”). Senate Bill No. 859 (S.B. 859) was authored by Senator Kevin Eltife, sponsored by Representative Rene Oliveira, and became effective on September 1, 2015, with portions becoming effective on January 1, 2016. S.B. 859 makes several technical and substantive amendments to the Code relating to partnerships and limited liability companies.