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Texas Business Organizations Code

§ 21.753 — NOTICE; INTERVENTION

BO § 21.753Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. P. JUDICIAL PROCEEDINGS RELATING TO CLOSE CORPORATION

Statute text

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(a)Notice of the institution of a proceeding shall be given to the close corporation, if the corporation is not a plaintiff, and to each shareholder who is not a plaintiff in the manner prescribed by law and consistent with due process of law as directed by the court.
(b)The close corporation or a shareholder of the close corporation may intervene in the proceeding.

Legislative history

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

Source: Texas Business Organizations Code § 21.753 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.