Texas Business Organizations Code - Section 10.351. Applicability Of Subchapter
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Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 10.351. Applicability Of Subchapter
§ 10.351. APPLICABILITY OF SUBCHAPTER. (a) This
subchapter does not apply to a fundamental business transaction of
a domestic entity if, immediately before the effective date of the
fundamental business transaction, all of the ownership interests of
the entity otherwise entitled to rights to dissent and appraisal
under this code are held by one owner or only by the owners who
approved the fundamental business transaction.
(b) This subchapter applies only to a "domestic entity
subject to dissenters' rights," as defined in Section 1.002. That
term includes a domestic for-profit corporation, professional
corporation, professional association, and real estate investment
trust. Except as provided in Subsection (c), that term does not
include a partnership or limited liability company.
(c) The governing documents of a partnership or a limited
liability company may provide that its owners are entitled to the
rights of dissent and appraisal provided by this subchapter.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 10.254 10.301 10.302 10.303 10.304 10.305 10.306 10.351 10.352 10.353 10.354 10.355 10.356 10.357 10.358
Last modified: August 11, 2007
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