Section 2.007 - Additional Prohibited Activities of For-Profit Corporation A for-profit corporation may not:
(1) operate a cooperative association, limited cooperative association, or labor union;(2) transact a combination of the businesses of:(A) raising cattle and owning land for the raising of cattle, other than operating and owning feedlots and feeding cattle; and(B) operating stockyards and slaughtering, refrigerating, canning, curing, or packing meat;(3) engage in a combination of: (A) the petroleum oil producing business in this state; and(B) the oil pipeline business in this state other than through stock ownership in a for-profit corporation engaged in the oil pipeline business and other than the ownership or operation of private pipelines in and about the corporation's refineries, fields, or stations; or(4) engage in a business or activity that may not be engaged in by a for-profit corporation without first obtaining a license under the laws of this state and a license to engage in that business or activity cannot lawfully be granted to the corporation.Tex. Bus. Org. Code § 2.007
Amended by Acts 2007, 80th Leg., R.S., Ch. 688, Sec. 5, eff. 9/1/2007. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.