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Texas Business Organizations Code

§ 21.724 — TERMINATION OF SHAREHOLDERS' AGREEMENT

BO § 21.724Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. O. CLOSE CORPORATION

Statute text

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(a)Except as provided by Subsection (b), a shareholders' agreement terminates when the close corporation terminates its status as a close corporation.
(b)If provided by the shareholders' agreement, all or part of the agreement is valid and enforceable to the extent permitted for an ordinary corporation by this chapter or other law.

Legislative history

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

Source: Texas Business Organizations Code § 21.724 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.