Texas Business Organizations Code

§ 2.003 — GENERAL PROHIBITED PURPOSES

BO § 2.003Title 1. GENERAL PROVISIONS · Ch. 2. PURPOSES AND POWER OF DOMESTIC ENTITY · Art. A. PURPOSES OF DOMESTIC ENTITY

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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; or

(B)cannot lawfully be engaged in by that entity under state law; or

(2)operate as a:

(A)bank;

…

Legislative history

Acts 2005, 79th Leg., Ch. 728 (H.B. 2018), Sec. 11.103, eff. January 1, 2006. Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 4, eff. September 1, 2007. Acts 2009, 81st Leg., R.S., Ch. 84 (S.B. 1442), Sec. 2, eff. September 1, 2009.