Tex. Bus. Org. Code § 101.111 : BUSINESS ORGANIZATIONS CODE — LIMITED LIABILITY COMPANIES — LIMITED LIABILITY COMPANIES — MEMBERSHIP — Rights and Duties of Assignor of Membership Interest TEXT PDF (a) An assignor of a membership interest in a limited liability company continues to be a member of the company and is entitled to exercise any unassigned rights or powers of a member of the company until the assignee becomes a member of the company. (b) An assignor of a membership interest in a limited liability company is not released from the assignor's liability to the company, regardless of whether the assignee of the membership interest becomes a member of the company. Tex. Bus. Org. Code § 101.111 Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.