Tex. Occ. Code § 1806.003 · Subchapter A. GENERAL PROVISIONS
DEFINITION OF CONTROLLING PERSON.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) In this section, "business entity" means a corporation, business trust, estate, trust, partnership, including a limited partnership, association, or any other legal entity, regardless of whether the entity is incorporated in this state.
(b) In this chapter, "controlling person" means an individual who:
(1) has direct or indirect control of at least 25 percent of the voting securities of a business entity;
(2) has the authority to set policy and direct the management of a business entity;
(3) is the president, the secretary, or a director of a business entity; or
(4) is a general partner of a partnership, including a limited partnership.
Notes and commentary — not statutory text
History
Added by Acts 2025, 89th Leg., R.S., Ch. 1062 (S.B. 1036), Sec. 1, eff. September 1, 2025.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1806.htm
- Text hash
- sha256 d5cd0077d270012c7a397fb08e71c903ebbb9e21fdedae3f2db6746d57f5dfba
- 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.