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Texas Business Organizations Code - Section 22.053. Dividends Prohibited

Legal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 22.053. Dividends Prohibited

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§ 22.053. DIVIDENDS PROHIBITED. A dividend may not be paid to, and no part of the income of a corporation may be distributed to, the corporation's members, directors, or officers. Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.

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Last modified: August 11, 2007