Tex. Business Organizations Code § 21.406

This is the official text of Tex. Business Organizations Code § 21.406, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.

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§ 21.406. SPECIAL VOTING RIGHTS OF DIRECTORS.

Official statutory text

(a) The certificate of formation of a corporation may provide that directors, regardless of whether elected by the holders of a class or series of shares or by a group of classes or series of shares, as provided by Section 21.405, are entitled to cast more or less than one vote on all matters or on specified matters. Such a provision also applies to directors voting in any committee or subcommittee regarding all matters or the specified matters, as applicable, unless otherwise provided by the certificate of formation.

(b) Unless expressly stated otherwise, each reference in this code or in a corporation's certificate of formation or bylaws to a specified portion of the directors means the portion of the votes entitled to be cast by the directors to which the reference applies.

Status: in_force · Read it on the official government site

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