Texas Business Organizations Code - Section 251.153. Subscribers
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§ 251.153. SUBSCRIBERS. (a) A person is a subscriber of a
cooperative association only if the person is:
(1) eligible for membership in the cooperative
association under Section 251.151; and
(2) legally obligated to purchase a share or
membership in the cooperative association.
(b) The certificate of formation or bylaws of a cooperative
association may state whether and the conditions under which voting
rights or other membership rights are granted to a subscriber of the
cooperative association.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 251.054 251.101 251.102 251.103 251.104 251.151 251.152 251.153 251.154 251.201 251.202 251.203 251.204 251.251 251.252
Last modified: August 11, 2007
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