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Texas Business Organizations Code

§ 21.759 — RIGHTS AND POWERS OF PROVISIONAL DIRECTOR

BO § 21.759Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. P. JUDICIAL PROCEEDINGS RELATING TO CLOSE CORPORATION

Statute text

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A provisional director has all the rights and powers of an elected director of the close corporation, or the rights of vote or consent of a shareholder and other rights and powers of shareholders or other persons who have been empowered to manage the business and affairs of the close corporation under a shareholders' agreement with the voting power provided by court order, including the right to notice of, and to vote at, meetings of directors or shareholders.

Legislative history

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

Source: Texas Business Organizations Code § 21.759 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.