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Texas Business Corporation Act - Part 12Legal Research Home > Texas Lawyer > Business Corporation Act > Texas Business Corporation Act - Part 12 A. Citation. This part may be cited as the "Texas Close Corporation Law." Added by Acts 1981, 67th Leg., p. 3102, ch. 818, ... A. In General. In this part, unless the context otherwise requires: (1) "Close corporation" means a domestic corporation formed in conformance with the requirements ... A. Part Twelve. This part applies only to a close corporation. B. Other Parts. To the extent not inconsistent with this part, all other ... A. In General. In addition to any provision required or permitted to be set forth in the articles by Article 3.02 of ... A. In General. A close corporation shall be formed in conformance with Part Three and Article 12.11 of this Act. ... A. By Amendment of Articles of Incorporation. An ordinary corporation may become a close corporation by amending its articles of ... A. In General. If an existing corporation that elected to become a close corporation in conformance with former Article 2.30-1 of this ... A. A close corporation need not adopt bylaws if provisions required by law to be contained in the bylaws are contained ... A. In General. A close corporation terminates its status as a close corporation: (1) on filing a statement of termination ... A. In General. If a close corporation provision specifies a time or event, whether or not identifiable by persons dealing ... A. In General. A close corporation that terminates its status as a close corporation and becomes an ordinary ... A. Management. A close corporation shall be managed: (1) by a board of directors in the same manner an ordinary ... Shareholders' Agreement--In General A. Close Corporation Provisions. All shareholders of a close corporation may make one or more shareholders' agreements. The business and affairs of ... Shareholders' Agreements--Procedures Required A. Execution. A shareholders' agreement shall be executed: (1) in the case of an existing close corporation, by each person who is ... A. In General. If on or after the formation of a close corporation or adoption of close corporation ... Validity and Enforceability of Shareholders' Agreement A. In General. A shareholders' agreement, if executed in conformance with Article 12.33 of this Act, is valid and ... Binding Effect of Shareholders' Agreement A. Persons Bound. A shareholders' agreement, if executed in conformance with Article 12.33 of this Act, is considered to be ... A. In General. This article applies only to a close corporation whose business and affairs, pursuant to a shareholders' ... A. In General. Articles 12.31 through 12.37 of this Act do not prohibit or impair any other agreement among two ... A. Required Statements. In addition to any matter required or permitted to be stated on a certificate representing shares by this ... A. Definitions. As used in this article and the succeeding articles of this part, unless the context otherwise ... A. In General. A court of competent jurisdiction, in a judicial proceeding brought under this article, shall enforce ... A. In General. A court of competent jurisdiction, in a proceeding brought under this article, shall ... A. In General. A court of competent jurisdiction in a judicial proceeding brought under this article shall ... Last modified: August 10, 2007 |