Texas Business Organizations Code - Section 22.151. Members
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§ 22.151. MEMBERS. (a) A corporation may have one or more
classes of members or may have no members.
(b) If the corporation has one or more classes of members,
the corporation's certificate of formation or bylaws must include:
(1) a designation of each class;
(2) the manner of the election or appointment of the
members of each class; and
(3) the qualifications and rights of the members of
each class.
(c) A corporation may issue a certificate, card, or other
instrument evidencing membership rights, voting rights, or
ownership rights as authorized by the certificate of formation or
bylaws.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 22.103 22.104 22.105 22.106 22.107 22.108 22.109 22.151 22.152 22.153 22.154 22.155 22.156 22.157 22.158
Last modified: August 11, 2007
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