DecisionDepot
California legal research

Texas Business Organizations Code

§ 23.057 — MANAGEMENT BY BOARD OF DIRECTORS; NUMBER OF DIRECTORS

BO § 23.057Title 2. CORPORATIONS · Ch. 23. SPECIAL-PURPOSE CORPORATIONS · Art. B. BUSINESS DEVELOPMENT CORPORATIONS

Statute text

View on source
(a)The organization, control, and management of a corporation are vested in a board of directors. The board must consist of not fewer than 15 and not more than 21 directors.
(b)The board of directors may exercise any power of the corporation not conferred on the shareholders or members by law or by the corporation's bylaws.

Legislative history

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

Source: Texas Business Organizations Code § 23.057 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.