A for-profit corporation may not:

1. (1) operate a cooperative association, limited cooperative association, or labor union;

2. (2) transact a combination of the businesses of:

   1. (A) raising cattle and owning land for the raising of cattle, other than operating and owning feedlots and feeding cattle; and
   2. (B) operating stockyards and slaughtering, refrigerating, canning, curing, or packing meat;

3. (3) engage in a combination of:

   1. (A) the petroleum oil producing business in this state; and
   2. (B) the oil pipeline business in this state other than through stock ownership in a for-profit corporation engaged in the oil pipeline business and other than the ownership or operation of private pipelines in and about the corporation's refineries, fields, or stations; or
4. (4) engage in a business or activity that may not be engaged in by a for-profit corporation without first obtaining a license under the laws of this state and a license to engage in that business or activity cannot lawfully be granted to the corporation.

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

Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 5, eff. September 1, 2007.