Texas Business Organizations Code - Section 10.010. Special Provisions Applying To Nonprofit Corporation Mergers
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§ 10.010. SPECIAL PROVISIONS APPLYING TO NONPROFIT
CORPORATION MERGERS. (a) A domestic nonprofit corporation may not
merge into another entity if the domestic nonprofit corporation
would, because of the merger, lose or impair its charitable status.
(b) One or more domestic or foreign for-profit entities or
non-code organizations may merge into one or more domestic
nonprofit corporations that continue as the surviving entity or
entities.
(c) A domestic nonprofit corporation may not merge with a
foreign for-profit entity if the domestic nonprofit corporation
does not continue as the surviving entity.
(d) One or more domestic nonprofit corporations and
non-code organizations may merge into one or more foreign nonprofit
entities that continue as the surviving entity or entities.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 10.003 10.004 10.005 10.006 10.007 10.008 10.009 10.010 10.051 10.052 10.053 10.054 10.055 10.056 10.101
Last modified: August 11, 2007
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