Tex. Occ. Code § 1304.0035 · Subchapter A. GENERAL PROVISIONS
CONTROLLING PERSON.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this chapter, "controlling person" means an individual who:
(1) possesses direct or indirect control of at least 25 percent of the voting securities of a corporation;
(2) possesses the authority to set policy and direct the management of a business entity;
(3) is the president, the secretary, or a director of a corporation; or
(4) is a general partner of a partnership.
(b) An individual who is a controlling person of a corporation or other business entity that is the general partner of a limited partnership is a controlling person of the limited partnership.
Notes and commentary — not statutory text
History
Added by Acts 2005, 79th Leg., Ch. 63 (H.B. 1286), Sec. 3, eff. January 1, 2006.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1304.htm
- Text hash
- sha256 6471df40509c01dcae67df2f735733bdde9f261842b93031347f6564c22a299b
- 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.