Section 21.704 - Bylaws of Close Corporation(a) A close corporation does not need to adopt bylaws if provisions required by law to be contained in the bylaws are contained in the certificate of formation or a shareholders' agreement.(b) A close corporation that does not have bylaws when it terminates its status as a close corporation under Section 21.708 shall immediately adopt bylaws that comply with Section 21.057.Tex. Bus. Org. Code § 21.704
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. 1/1/2006.