Tex. Bus. Orgs. Code § 21.708 · Subchapter O. CLOSE CORPORATION
TERMINATION OF CLOSE CORPORATION STATUS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A close corporation may terminate its status as a close corporation by:
(1) filing a statement terminating close corporation status under Section 21.709;
(2) amending the close corporation's certificate of formation under Chapter 3 by deleting from the certificate of formation the statement that it is a close corporation;
(3) engaging in a merger, interest exchange, or conversion under Chapter 10, unless the plan of merger, exchange, or conversion provides that the surviving or new corporation will continue as or become a close corporation and the plan has been approved by the affirmative vote or consent of the holders of all of the outstanding shares, and of each class and series of shares, of the close corporation, regardless of whether a class or series of shares is entitled to vote on the plan by the certificate of formation; or
(4) instituting a judicial proceeding to enforce a close corporation provision providing for the termination.
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 9838f540c31234186171a1a01e05afe8cefadc9ac84d0b142e7a42f02fe91924
- 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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Business Organizations Code
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Business Organizations Code
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