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Texas Business Organizations Code

§ 23.065 — VOTING BY SHAREHOLDER OR MEMBER

BO § 23.065Title 2. CORPORATIONS · Ch. 23. SPECIAL-PURPOSE CORPORATIONS · Art. B. BUSINESS DEVELOPMENT CORPORATIONS

Statute text

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(a)Each shareholder of a corporation has one vote, in person or by proxy, for each share held by the shareholder.
(b)Each member of a corporation has one vote in person or by proxy.
(c)A member with a loan limit that exceeds $1,000 has one additional vote, in person or by proxy, for each additional $1,000 the member may have outstanding on loans to the corporation at any one time as determined under Section 23.068.

Legislative history

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

Source: Texas Business Organizations Code § 23.065 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.