Sec. 101.109. RIGHTS AND DUTIES OF ASSIGNEE OF MEMBERSHIP INTEREST BEFORE MEMBERSHIP. (a) A person who is assigned a membership interest in a limited liability company is entitled to: (1) receive any allocation of income, gain, loss, deduction, credit, or a similar item that the assignor is entitled to receive to the extent the allocation of the item is assigned; (2) receive any distribution the assignor is entitled to receive to the extent the distribution is assigned; and (3) the rights described by Section 101.502 . (b) An assignee of a membership interest in a limited liability company is entitled to become a member of the company on the approval of all of the company's members. (c) An assignee of a membership interest in a limited liability company is not liable as a member of the company until the assignee becomes a member of the company.
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