Sec. 2.007. ADDITIONAL PROHIBITED ACTIVITIES OF FOR-PROFIT CORPORATION. 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) raising cattle and owning land for the raising of cattle, other than operating and owning feedlots and feeding cattle; and
(B) operating stockyards and slaughtering, refrigerating, canning, curing, or packing meat;
(3) engage in a combination of:
(A) the petroleum oil producing business in this state; and
(B) the oil pipeline business in this state other than through stock ownership in a for-profit corporation engaged in the oil pipeline business and other than the ownership or operation of private pipelines in and about the corporation's refineries, fields, or stations; or
(4) engage in a business or activity that may not be engaged in by a for-profit corporation without first obtaining a license under the laws of this state and a license to engage in that business or activity cannot lawfully be granted to the corporation.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 5, eff. September 1, 2007.
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