Texas Business Organizations Code Title 1, Chapter 2 - Purposes And Power Of Domestic Entity

SUBCHAPTER A PURPOSES OF DOMESTIC ENTITY

• Texas Section 2.001 - General Scope Of Permissible Purposes
  A domestic entity has any lawful purpose or purposes, unless otherwise provided by this code. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan....
• Texas Section 2.002 - Purposes Of Nonprofit Entity
  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,...
• Texas Section 2.003 - General Prohibited Purposes
  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;...
• Texas Section 2.004 - Limitation On Purposes Of Professional Entity
  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...
• Texas Section 2.005 - Limitation In Governing Documents
  The governing documents of a domestic entity may contain limitations on the entity's purposes. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1,
• Texas Section 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)...
• Texas Section 2.008 - Nonprofit Corporations
  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,...
• Texas Section 2.009 - Permissible Purpose Of Nonprofit Corporation Related To Organized Labor
  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...
• Texas Section 2.010 - Prohibited Activities Of Nonprofit Corporation
  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...
• Texas Section 2.011 - Purposes Of Cooperative Association
  (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,...

SUBCHAPTER B POWERS OF DOMESTIC ENTITY

• Texas Section 2.012 - Limitation On Purposes Of Real Estate Investment Trust
  The purposes of a real estate investment trust are limited by Section 3.012. Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
• Texas Section 2.101 - General Powers
  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...
• Texas Section 2.102 - Additional Powers Of Nonprofit Entity Or Institution
  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...
• Texas Section 2.103 - Power To Incur Indebtedness
  (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:...
• Texas Section 2.104 - Power To Make Guaranties
  (a) In this section, "guaranty" means a guaranty, mortgage, pledge, security agreement, or other agreement making the domestic entity or its assets liable for another...
• Texas Section 2.105 - Additional Powers Of Certain Pipeline Businesses
  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...
• Texas Section 2.106 - Power Of Nonprofit Corporation To Serve As Trustee
  (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,...
• Texas Section 2.107 - Standard Tax Provisions For Certain Charitable Nonprofit Corporations; Power To Exclude
  (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...
• Texas Section 2.108 - Powers Of Professional Association
  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...
• Texas Section 2.109 - Powers Of Professional Corporation
  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...
• Texas Section 2.110 - Powers Of Cooperative Association
  (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,...
• Texas Section 2.111 - Limitation On Powers Of Cooperative Association
  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...
• Texas Section 2.112 - Stated Powers In Subchapter Sufficient
  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,...
• Texas Section 2.113 - Limitation On Powers
  (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...
• Texas Section 2.114 - Certificated Indebtedness; Manner Of Issuance; Signature And Seal
  (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: September 28, 2016