Tex. Bus. Orgs. Code § 21.601 · Subchapter M. AFFILIATED BUSINESS COMBINATIONS
DEFINITIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
In this subchapter:
(1) "Issuing public corporation" means a domestic corporation that has:
(A) 100 or more shareholders of record as shown by the share transfer records of the corporation;
(B) a class or series of the corporation's voting shares registered under the Securities Exchange Act of 1934 (15 U.S.C. Section 77b et seq.), as amended; or
(C) a class or series of the corporation's voting shares qualified for trading on a national securities exchange.
(2) "Person" includes two or more persons acting as a partnership, limited partnership, syndicate, or other group under an agreement, arrangement, or understanding, regardless of whether in writing, to acquire, hold, vote, or dispose of a corporation's shares.
(3) "Share acquisition date" means the date a person initially becomes an affiliated shareholder of an issuing public corporation.
(4) "Subsidiary" means a domestic or foreign corporation or other entity of which a majority of the outstanding voting shares are owned, directly or indirectly, by an issuing public corporation.
(5) "Voting share" means a share of capital stock of a corporation that entitles the holder of the share to vote generally in the election of directors.
Notes and commentary — not statutory text
History
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2011, 82nd Leg., R.S., Ch. 139 (S.B. 748), Sec. 30, eff. September 1, 2011.
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 2c5c101544243b599051362624c1ff8ebeab31a3260ba4b424a31a479c692f88
- 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
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.