Tex. Bus. Orgs. Code § 21.715 · Subchapter O. CLOSE CORPORATION
EXECUTION OF SHAREHOLDERS' AGREEMENT.
Text — Current through the 89th 2nd Called Legislative Session, 2025
A shareholders' agreement shall be executed:
(1) in the case of an existing close corporation, by each shareholder at the time of execution, regardless of whether the shareholder has voting power;
(2) in the case of an existing ordinary corporation that will adopt close corporation status under Section 21.705, by each shareholder at the time of execution, regardless of whether the shareholder has voting power; or
(3) in the case of a close corporation that is being formed under Section 21.703, by each person who is a subscriber to the corporation's shares or agrees to become a holder of the corporation's shares under the shareholders' agreement of the close corporation.
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 9a5b7ebb382a4bcd9875cf5246cdd02bd6cd9c98544915fd87460d4263d5e6af
- 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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