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Texas Business Organizations Code

§ 303.005 — EXISTENCE OF PROFESSIONAL CORPORATION BEFORE WINDING UP AND TERMINATION

BO § 303.005Title 7. PROFESSIONAL ENTITIES · Ch. 303. PROVISIONS RELATING TO PROFESSIONAL CORPORATIONS

Statute text

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A professional corporation continues to exist until the winding up and termination of the corporation as provided by Chapter 11 without regard to:
(1)the death, incompetency, bankruptcy, resignation, withdrawal, retirement, or expulsion of any shareholder of the corporation;
(2)the transfer of shares to a new shareholder; or
(3)the occurrence of an event requiring the winding up of a partnership.

Legislative history

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

Source: Texas Business Organizations Code § 303.005 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.