Texas Business Organizations Code

§ 2.101 — GENERAL POWERS

BO § 2.101Title 1. GENERAL PROVISIONS · Ch. 2. PURPOSES AND POWER OF DOMESTIC ENTITY · Art. B. POWERS OF DOMESTIC ENTITY

Statute text

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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 out its business and affairs. Except as otherwise provided by this code, the powers of a domestic entity include the power to:

(1)sue, be sued, and defend suit in the entity's business name;

(2)have and alter a seal and use the seal or a facsimile of it by impressing, affixing, or reproducing it;

(3)acquire, receive, own, hold, improve, use, and deal in and with property or an interest in property;

(4)sell, convey, mortgage, pledge, lease, exchange, and otherwise dispose of property;

(5)make contracts and guarantees;

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Legislative history

Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 5, eff. January 1, 2006. Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 7, eff. September 1, 2007.