Tex. Bus. Org. Code § 21.701

Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.

Section 21.701 - Definitions

In this subchapter and Subchapter P:

(1) "Close corporation" means a domestic corporation formed under this subchapter or governed by this subchapter because of Section 21.705, 21.706, or 21.707.

(2) "Close corporation provision" means a provision in the certificate of formation of a close corporation or in a shareholders' agreement of a close corporation.

(3) "Ordinary corporation" means a domestic corporation that is not a close corporation.

(4) "Shareholders' agreement" means a written agreement regulating an aspect of the business and affairs of or the relationship among the shareholders of a close corporation that has been executed under this subchapter.

Tex. Bus. Org. Code § 21.701

Amended by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 665,Sec. 9, eff. 9/1/2019.

Amended by Acts 2011, 82nd Leg., R.S., Ch. 139, Sec. 32, eff. 9/1/2011.

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.