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Texas Business Organizations Code

§ 21.951 — LAW APPLICABLE TO PUBLIC BENEFIT CORPORATIONS; FORMATION

BO § 21.951Title 2. CORPORATIONS · Ch. 21. FOR-PROFIT CORPORATIONS · Art. S. PUBLIC BENEFIT CORPORATIONS

Statute text

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(a)A for-profit corporation may elect under Section 3.007(e) to be a public benefit corporation that is governed by this subchapter.
(b)If a corporation elects to be a public benefit corporation, the corporation is subject to the other provisions of this chapter and other provisions of this code applicable to for-profit corporations.
(c)To the extent of a conflict between this subchapter and another provision of this chapter or another provision of this code applicable to for-profit corporations, this subchapter controls.

Legislative history

Added by Acts 2017, 85th Leg., R.S., Ch. 776 (H.B. 3488), Sec. 4, eff. September 1, 2017.

Source: Texas Business Organizations Code § 21.951 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.