Sec. 21.303.  LIMITATIONS ON DISTRIBUTIONS.  (a)  A corporation may not make a distribution that violates the corporation's certificate of formation.
(b)  Unless the distribution is made in compliance with Chapter 11, a corporation may not make a distribution:
(1)  if the corporation would be insolvent after the distribution;  or
(2)  that exceeds the distribution limit.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.