Tex. Gov't Code § 572.005 · Subchapter A. GENERAL PROVISIONS
DETERMINATION OF SUBSTANTIAL INTEREST.
Text — Current through the 89th 2nd Called Legislative Session, 2025
An individual has a substantial interest in a business entity if the individual:
(1) has a controlling interest in the business entity;
(2) owns more than 10 percent of the voting interest in the business entity;
(3) owns more than $25,000 of the fair market value of the business entity;
(4) has a direct or indirect participating interest by shares, stock, or otherwise, regardless of whether voting rights are included, in more than 10 percent of the profits, proceeds, or capital gains of the business entity;
(5) is a member of the board of directors or other governing board of the business entity;
(6) serves as an elected officer of the business entity; or
(7) is an employee of the business entity.
Notes and commentary — not statutory text
History
Added by Acts 1993, 73rd Leg., ch. 268, Sec. 1, eff. Sept. 1, 1993.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/GV/htm/GV.572.htm
- Text hash
- sha256 47c47058aa7a69c16d137367d5d648c02109dc78a173b8e37ff9fd0dcce470f8
- 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.