Texas Business Organizations Code - Section 6.152. Voting Of Interests Owned By Entity
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Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Section 6.152. Voting Of Interests Owned By Entity
§ 6.152. VOTING OF INTERESTS OWNED BY ENTITY. (a) Except
as provided by Subsection (b), an ownership interest owned by the
entity that is the issuer of the interest, or by its direct or
indirect subsidiary, may not be:
(1) directly or indirectly voted at a meeting; or
(2) included in determining at any time the total
number of outstanding ownership interests of the entity.
(b) This section does not preclude a domestic or foreign
entity from voting an ownership interest, including an interest in
the entity, held or controlled by the entity in a fiduciary capacity
or for which the entity otherwise exercises voting power in a
fiduciary capacity.
Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006.
Section: 6.051 6.052 6.053 6.101 6.102 6.103 6.151 6.152 6.153 6.154 6.155 6.156 6.201 6.202 6.203
Last modified: August 11, 2007
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