Texas Business Organizations Code - Section 22.202. Management By Members
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§ 22.202. MANAGEMENT BY MEMBERS. (a) The certificate of
formation of a corporation may vest the management of the affairs of
the corporation in the members of the corporation. If the
corporation has a board of directors, the corporation may limit the
authority of the board to the extent provided by the certificate of
formation or bylaws.
(b) A corporation is considered to have vested the
management of the corporation's affairs in the board of directors
of the corporation in the absence of a provision to the contrary in
the certificate of formation, unless the corporation is a church
organized and operating under a congregational system that:
(1) was incorporated before January 1, 1994; and
(2) has the management of its affairs vested in the
corporation's members.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 22.159 22.160 22.161 22.162 22.163 22.164 22.201 22.202 22.203 22.204 22.205 22.206 22.207 22.208 22.209
Last modified: August 11, 2007
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