Texas Business Organizations Code - Section 22.001. Definitions
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Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 22.001. Definitions
§ 22.001. DEFINITIONS. In this chapter:
(1) "Board of directors" means the group of persons
vested with the management of the affairs of the corporation,
regardless of the name used to designate the group.
(2) "Bylaws" means the rules adopted to regulate or
manage the corporation, regardless of the name used to designate
the rules.
(3) "Corporation" or "domestic corporation" means a
domestic nonprofit corporation subject to this chapter.
(4) "Foreign corporation" means a foreign nonprofit
corporation.
(5) "Nonprofit corporation" means a corporation no
part of the income of which is distributable to a member, director,
or officer of the corporation.
(6) "Ordinary care" means the care that an ordinarily
prudent person in a similar position would exercise under similar
circumstances.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 21.759 21.760 21.761 21.762 21.763 21.801 21.802 22.001 22.002 22.051 22.052 22.053 22.054 22.055 22.056
Last modified: August 11, 2007
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