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Texas Statutes

Subchapter O

Close Corporation

21.701Definitions 21.702Applicability of Subchapter 21.703Formation of Close Corporation 21.704Bylaws of Close Corporation 21.705Adoption of Amendment for Close Corporation Status 21.706Adoption of Close Corporation Status Through Merger, Exchange, or Conversion 21.707Existing Close Corporation 21.708Termination of Close Corporation Status 21.709Statement Terminating Close Corporation Status; Filing; Notice 21.710Effect of Termination of Close Corporation Status 21.711SHAREHOLDERS' MEETING TO ELECT DIRECTORS 21.712Term of Office of Directors 21.713Management 21.714SHAREHOLDERS' AGREEMENT 21.715EXECUTION OF SHAREHOLDERS' AGREEMENT 21.716ADOPTION OF AMENDMENT OF SHAREHOLDERS' AGREEMENT 21.717DELIVERY OF SHAREHOLDERS' AGREEMENT 21.718Statement of Operation as Close Corporation 21.719VALIDITY AND ENFORCEABILITY OF SHAREHOLDERS' AGREEMENT 21.720PERSONS BOUND BY SHAREHOLDERS' AGREEMENT 21.721DELIVERY OF COPY OF SHAREHOLDERS' AGREEMENT TO TRANSFEREE 21.722EFFECT OF REQUIRED STATEMENT ON SHARE CERTIFICATE AND DELIVERY OF SHAREHOLDERS' AGREEMENT 21.723PARTY NOT BOUND BY SHAREHOLDERS' AGREEMENT ON CESSATION; LIABILITY 21.724TERMINATION OF SHAREHOLDERS' AGREEMENT 21.725Consequences of Management by Persons Other Than Board of Directors 21.726Shareholders Considered Directors 21.727Liability of Shareholders 21.728Mode and Effect of Taking Action by Shareholders and Others 21.729LIMITATION OF SHAREHOLDER'S LIABILITY 21.730Lack of Formalities; Treatment as Partnership 21.731Other Agreements Among Shareholders Permitted 21.732Close Corporation Share Certificates