Texas Finance Code - Section 33.211. Application Of Other Provisions To Limited Banking Associations
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§ 33.211. APPLICATION OF OTHER PROVISIONS TO LIMITED
BANKING ASSOCIATIONS. For purposes of the provisions of this
subtitle other than this subchapter, as the context requires:
(1) a manager is considered to be a director and the
board of managers is considered to be the board of directors;
(2) if there is not a board of managers, a participant
is considered to be a director and all of the participants are
considered to be the board of directors;
(3) a participant or participant-transferee is
considered to be a shareholder;
(4) a participation share is considered to be a share
of stock; and
(5) a distribution is considered to be a dividend.
Acts 1997, 75th Leg., ch. 1008, § 1, eff. Sept. 1, 1997.
Section: 33.204 33.205 33.206 33.207 33.208 33.209 33.210 33.211 34.001 34.002 34.003 34.101 34.102 34.103 34.104
Last modified: August 10, 2007
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