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Texas Business Organizations Code - Chapter 2 Purposes And Power Of Domestic EntityLegal Research Home > Texas Lawyer > Business Organizations Code > Texas Business Organizations Code - Chapter 2 Purposes And Power Of Domestic Entity Sponsored LinksA domestic entity has any lawful purpose or purposes, unless otherwise provided by this code. Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. ... The purpose or purposes of a domestic nonprofit entity may include one or more of the following purposes: (1) serving charitable, benevolent, religious, eleemosynary, patriotic, ... A domestic entity may not: (1) engage in a business or activity that: (A) is expressly unlawful or prohibited by a law of this state; ... Except as provided in Title 7, a professional entity may engage in only: (1) one type of professional service, unless the entity is expressly authorized ... The governing documents of a domestic entity may contain limitations on the entity's purposes. Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, ... Notwithstanding Section 2.003(2)(E), a for-profit corporation may: (1) construct, acquire, maintain, and operate street railways, suburban railways, and belt lines of railways in or near ... A for-profit corporation may not: (1) operate a cooperative association, limited cooperative association, or labor union; (2) transact a combination of the businesses of: (A) ... A corporation formed for the purpose of operating a nonprofit institution, including an institution devoted to a charitable, benevolent, religious, patriotic, civic, cultural, missionary, educational, ... Subject to Chapter 101, Labor Code, a nonprofit corporation may be formed to organize laborers, workers, or wage earners to protect themselves in their various ... A nonprofit corporation may not be organized or registered under this code to conduct its affairs in this state to: (1) engage in or operate ... (a) A person may organize a cooperative association under this code to acquire, produce, build, operate, manufacture, furnish, exchange, or distribute any type of property, ... The purposes of a real estate investment trust are limited by Section 3.012. Acts 2003, 78th Leg., ch. 182, § 1, eff. Jan. 1, 2006. ... Except as otherwise provided by this code, a domestic entity has the same powers as an individual to take action necessary or convenient to carry ... To effect its purposes, a domestic nonprofit entity or institution formed for a religious, charitable, educational, or eleemosynary purpose may acquire, own, hold, mortgage, and ... (a) Unless otherwise provided by its governing documents or this code, a domestic entity may create indebtedness for any consideration the entity considers appropriate, including: ... (a) In this section, "guaranty" means a mortgage, pledge, security agreement, or other agreement making the domestic entity or its assets secondarily liable for another ... In addition to the powers provided by the other sections of this subchapter, a corporation, general partnership, limited partnership, limited liability company, or other combination ... (a) A nonprofit corporation that is described by Section 501(c)(3) or 170(c), Internal Revenue Code, or a corresponding provision of a subsequent federal tax law, ... (a) Notwithstanding any conflicting provision of this chapter, Chapter 3, or the certificate of formation and except as provided by Subsection (b), the certificate of ... Except as provided by Title 7, a professional association has the same powers, privileges, duties, restrictions, and liabilities as a for-profit corporation. Acts 2003, 78th ... Except as provided by Title 7, a professional corporation has the same powers, privileges, duties, restrictions, and liabilities as a for-profit corporation. Acts 2003, 78th ... (a) Except as provided by Chapter 251, a cooperative association may exercise the same powers and privileges and is subject to the same duties, restrictions, ... Except for the payment of necessary legal fees or promotion expenses, a cooperative association may not directly or indirectly use its funds, issue shares, or ... A domestic entity is not required to state any of the powers provided to the entity by this subchapter in its governing documents. Acts 2003, ... (a) This subchapter does not authorize a domestic entity or a managerial official of a domestic entity to exercise a power in a manner inconsistent ... (a) Except as otherwise provided by the governing documents of the domestic entity, this code, or other law, on the issuance by a domestic entity ... Last modified: August 11, 2007 |