Texas Business Organizations Code - Section 22.154. Failure To Call Annual Meeting
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Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 22.154. Failure To Call Annual Meeting
§ 22.154. FAILURE TO CALL ANNUAL MEETING. (a) If the
board of directors of a corporation fails to call the annual meeting
of members at the designated time, a member of the corporation may
demand that the meeting be held within a reasonable time. The
demand must be made in writing and sent to an officer of the
corporation by registered mail.
(b) If the annual meeting is not called before the 61st day
after the date of demand, a member of the corporation may compel the
holding of the meeting by legal action directed against the board of
directors, and each of the extraordinary writs of common law and of
courts of equity are available to the member to compel the holding
of the meeting. Each member has a justiciable interest sufficient
to enable the member to institute and prosecute the legal
proceedings.
(c) Failure to hold the annual meeting at the designated
time does not result in the winding up and termination of the
corporation.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 22.106 22.107 22.108 22.109 22.151 22.152 22.153 22.154 22.155 22.156 22.157 22.158 22.159 22.160 22.161
Last modified: August 11, 2007
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