Texas Business Organizations Code

§ 22.355 — EXEMPTIONS FROM CERTAIN REQUIREMENTS RELATING TO FINANCIAL RECORDS AND ANNUAL REPORTS

BO § 22.355Title 2. CORPORATIONS · Ch. 22. NONPROFIT CORPORATIONS · Art. H. RECORDS AND REPORTS

Statute text

Sections 22.352, 22.353, and 22.354 do not apply to:

(1)a corporation that solicits funds only from members of the corporation;

(2)a corporation that does not intend to solicit and receive and does not actually raise or receive during a fiscal year contributions in an amount exceeding $10,000 from a source other than its own membership;

(3)a private or independent institution of higher education described by Section 61.003, Education Code, accredited by a recognized accrediting agency as defined by Section 61.003, Education Code, a postsecondary educational institution authorized to grant degrees under a certificate of authority issued by the Texas Higher Education Coordinating Board or a foundation chartered for the benefit of the institution or any component part of the institution, a career school or college that has received a certificate of approval from the Texas Workforce Commission, a public institution of higher education or a foundation chartered for the benefit of the institution or any component part of the institution, or an elementary or secondary school;

(4)a religious institution that is a church, an ecclesiastical or denominational organization, or another established physical place for worship at which religious services are the primary activity and are regularly conducted;

(5)a trade association or professional society the income of which is principally derived from membership dues and assessments, sales, or services;

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Legislative history

Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 70, eff. January 1, 2006.