Texas Business Organizations Code

§ 251.052 — AMENDMENT OF CERTIFICATE OF FORMATION

BO § 251.052Title 6. ASSOCIATIONS · Ch. 251. COOPERATIVE ASSOCIATIONS · Art. B. FORMATION AND GOVERNING DOCUMENTS

Statute text

(a)The board of directors of a cooperative association may propose an amendment to the cooperative association's certificate of formation by a two-thirds vote of the board members. The members of a cooperative association may petition to amend the certificate of formation as provided by the bylaws.

(b)Not later than the 31st day before the date of the meeting, the secretary shall:

(1)send notice of a meeting to consider a proposed amendment to each member of the cooperative association at the member's last known address; or

(2)post notice of a meeting to consider a proposed amendment in a conspicuous place in all principal places of activity of the cooperative association.

(c)The notice required by Subsection (b) must include the full text of the proposed amendment and the text of the part of the certificate of formation to be amended.

(d)To be approved, an amendment must be adopted by the affirmative vote of two-thirds of the members voting on the amendment.

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Legislative history

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