Tex. Bus. Orgs. Code § 21.701 · Subchapter O. CLOSE CORPORATION
DEFINITIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
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.
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. 32, eff. September 1, 2011.
Acts 2019, 86th Leg., R.S., Ch. 665 (S.B. 1971), Sec. 9, eff. September 1, 2019.
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 8de9844da22f0a5065213f23320e67f9062bf8b964ca693ca7c72688304b45e0
- 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
This section cites
Provisions in this library that the text above cites, as it prints each citation. A range cited as “ss. 61.13-61.16” links its first and last provisions.
Business Organizations Code
- Tex. Bus. Orgs. Code § 21.705ADOPTION OF AMENDMENT FOR CLOSE CORPORATION STATUS.Printed as Section 21.705, 21.706, or 21.707
- Tex. Bus. Orgs. Code § 21.706ADOPTION OF CLOSE CORPORATION STATUS THROUGH MERGER, EXCHANGE, OR CONVERSION.Printed as Section 21.705, 21.706, or 21.707
- Tex. Bus. Orgs. Code § 21.707EXISTING CLOSE CORPORATION.Printed as Section 21.705, 21.706, or 21.707
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.