Texas Business Organizations Code - Section 6.053. Exception
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Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 6.053. Exception
§ 6.053. EXCEPTION. (a) Notice of a meeting is not
required to be given to an owner or member of a filing entity
entitled to notice under this code or the governing documents of the
entity if either of the following is mailed to the person entitled
to notice of the meeting to the person's address as it appears on
the ownership or membership transfer records of the entity and is
returned undeliverable:
(1) notice of two consecutive annual meetings and
notice of any meeting held during the period between the two annual
meetings; or
(2) all, but in no event less than two, payments of
distribution or interest on securities during a 12-month period if
the payments are sent by first class mail.
(b) Notice of a meeting is not required to be given to an
owner or member entitled to notice under this code or the governing
documents of a filing entity the notice requirements of which are
subject to the Securities Exchange Act of 1934, as amended (15
U.S.C. Section 78a et seq.), if the person entitled to notice of the
meeting is considered a lost security holder under that Act and the
regulations adopted under that Act.
(c) An action taken or a meeting held without giving notice
to a person not entitled to notice under this section has the same
force and effect as if notice had been given to the person.
(d) A certificate or other document filed with the secretary
of state as a result of a meeting held or an action taken by a filing
entity without giving notice of the meeting or action to a person
not entitled to notice under this section may state that notice of
the meeting or action was given to each person entitled to notice.
(e) Notice of a meeting must be given to a person not
entitled to notice of the meeting under this section if the person
delivers to the entity a written notice of the person's address.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 5.256 5.257 6.001 6.002 6.003 6.051 6.052 6.053 6.101 6.102 6.103 6.151 6.152 6.153 6.154
Last modified: August 11, 2007
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