Tex. Business Organizations Code § 21.551
This is the official text of Tex. Business Organizations Code § 21.551, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 21.551. DEFINITIONS.
Official statutory text
In this subchapter:
(1) "Derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided by Section 21.562, in the right of a foreign corporation.
(2) "Shareholder" includes:
(A) a shareholder as defined by Section 1.002;
(B) a beneficial owner whose shares are held in a voting trust or by a nominee on the beneficial owner's behalf; or
(C) two or more shareholders acting in concert under an informal or formal agreement or understanding with respect to a derivative proceeding.
(1) "Derivative proceeding" means a civil suit in the right of a domestic corporation or, to the extent provided by Section 21.562, in the right of a foreign corporation.
(2) "Shareholder" includes:
(A) a shareholder as defined by Section 1.002;
(B) a beneficial owner whose shares are held in a voting trust or by a nominee on the beneficial owner's behalf; or
(C) two or more shareholders acting in concert under an informal or formal agreement or understanding with respect to a derivative proceeding.
Status: in_force · Read it on the official government site
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