Tex. Bus. Orgs. Code § 21.725 · Subchapter O. CLOSE CORPORATION
CONSEQUENCES OF MANAGEMENT BY PERSONS OTHER THAN BOARD OF DIRECTORS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
Sections 21.726-21.729 apply only to a close corporation the business and affairs of which are managed wholly or partly by the shareholders of the close corporation or any other person as provided by a shareholders' agreement rather than solely by a board of directors.
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 f50afa36febbaf89d0c619c3f9a2992ff347f5078c3116eb4496f1733957d91d
- 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.
Cited by 6 provisions
Provisions in this library whose text cites Tex. Bus. Orgs. Code § 21.725. Each shows the citation as that text prints it.
Business Organizations Code
- Tex. Bus. Orgs. Code § 21.707EXISTING CLOSE CORPORATION.Printed as Sections 21.714-21.725
- Tex. Bus. Orgs. Code § 21.710EFFECT OF TERMINATION OF CLOSE CORPORATION STATUS.Printed as Section 21.725
- Tex. Bus. Orgs. Code § 21.726SHAREHOLDERS CONSIDERED DIRECTORS.Printed as Section 21.725
- Tex. Bus. Orgs. Code § 21.727LIABILITY OF SHAREHOLDERS.Printed as Section 21.725
- Tex. Bus. Orgs. Code § 21.728MODE AND EFFECT OF TAKING ACTION BY SHAREHOLDERS AND OTHERS.Printed as Section 21.725
- Tex. Bus. Orgs. Code § 21.729LIMITATION OF SHAREHOLDER'S LIABILITY.Printed as Section 21.725
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.