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Texas Business Organizations Code

§ 21.713 — MANAGEMENT

BO § 21.713Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. O. CLOSE CORPORATION

Statute text

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A close corporation shall be managed:
(1)by a board of directors in the same manner an ordinary corporation would be managed under this chapter; or
(2)in the manner provided by the close corporation's certificate of formation or by a shareholders' agreement of the close corporation.

Legislative history

Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.

Source: Texas Business Organizations Code § 21.713 from the Texas Constitution and Statutes (Texas Legislature) (public record). DecisionDepot is for informational use only and is not legal advice — verify against the official source before relying on this text.