Tex. Fin. Code § 183.211 · Subchapter C. LIMITED TRUST ASSOCIATION
APPLICATION OF OTHER PROVISIONS TO LIMITED TRUST ASSOCIATIONS.
Text — Current through the 89th 2nd Called Legislative Session, 2025
For purposes of applying the provisions of this subtitle other than this subchapter to a limited trust association, as the context requires:
(1) a manager and the board of managers are considered to be a director and the board of directors;
(2) if there is not a board of managers, a participant is considered to be a director and all of the participants are considered to be the board of directors;
(3) a participant or participant-transferee is considered to be a shareholder;
(4) a participation share is considered to be a share of stock; and
(5) a distribution is considered to be a dividend.
Notes and commentary — not statutory text
History
Added by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/FI/htm/FI.183.htm
- Text hash
- sha256 846ab4a784682f795cf84c08c829b8c26b3874b78fa5cbc9762aa56eb14376ca
- 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.