Tex. Business Organizations Code § 21.701
DEFINITIONS
Texas · Texas Business Organizations Code · Status: effective
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- Citation
- Tex. Business Organizations Code § 21.701, DEFINITIONS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/583598
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Full text
In this subchapter and Subchapter P:
(1) "Close corporation" means a domestic corporation formed under this subchapter or governed by this subchapter because of Section 21.705, 21.706, or 21.707.
(2) "Close corporation provision" means a provision in the certificate of formation of a close corporation or in a shareholders' agreement of a close corporation.
(3) "Ordinary corporation" means a domestic corporation that is not a close corporation.
(4) "Shareholders' agreement" means a written agreement regulating an aspect of the business and affairs of or the relationship among the shareholders of a close corporation that has been executed under this subchapter.