Tex. Bus. Orgs. Code § 21.369 · Subchapter H. SHAREHOLDERS' MEETINGS; NOTICE TO SHAREHOLDERS; VOTING AND QUORUM
REVOCABILITY OF PROXY.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, a "proxy coupled with an interest" includes the appointment as proxy of:
(1) a pledgee;
(2) a person who purchased or agreed to purchase the shares subject to the proxy;
(3) a person who owns or holds an option to purchase the shares subject to the proxy;
(4) a creditor of the corporation who extended the corporation credit under terms requiring the appointment;
(5) an employee of the corporation whose employment contract requires the appointment; or
(6) a party to a voting agreement created under Section 6.252 or a shareholders' agreement created under Section 21.101.
(b) A proxy is revocable unless:
(1) the proxy form conspicuously states that the proxy is irrevocable; and
(2) the proxy is coupled with an interest.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/BO/htm/BO.21.htm
- Text hash
- sha256 ea4085df93890be34574905b48c899c3c79c7aa789e6e020fcedeb99d5d0d7bd
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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Procedural information only. Not legal advice and not a substitute for the advice of an attorney. Confirm the current text with the official publisher before relying on it.