Tex. Business Organizations Code § 2.003
This is the official text of Tex. Business Organizations Code § 2.003, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 2.003. GENERAL PROHIBITED PURPOSES.
Official statutory text
A domestic entity may not:
(1) engage in a business or activity that:
(A) is expressly unlawful or prohibited by a law of this state; or
(B) cannot lawfully be engaged in by that entity under state law; or
(2) operate as a:
(A) bank;
(B) trust company;
(C) savings association;
(D) insurance company;
(E) cemetery organization, except as authorized by Chapter 711, 712, or 715, Health and Safety Code; or
(F) abstract or title company governed by Title 11, Insurance Code.
(1) engage in a business or activity that:
(A) is expressly unlawful or prohibited by a law of this state; or
(B) cannot lawfully be engaged in by that entity under state law; or
(2) operate as a:
(A) bank;
(B) trust company;
(C) savings association;
(D) insurance company;
(E) cemetery organization, except as authorized by Chapter 711, 712, or 715, Health and Safety Code; or
(F) abstract or title company governed by Title 11, Insurance Code.
Status: in_force · Read it on the official government site
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