Tex. Business Organizations Code § 21.903
This is the official text of Tex. Business Organizations Code § 21.903, part of Texas’s Business Organizations Code — governs the formation and operation of corporations, LLCs, and partnerships.
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§ 21.903. RATIFICATION OF DEFECTIVE CORPORATE ACT; ADOPTION OF RESOLUTIONS.
Official statutory text
(a) To ratify one or more defective corporate acts, the board of directors of the corporation shall adopt resolutions stating:
(1) the defective corporate act or acts to be ratified;
(2) the date of each defective corporate act;
(3) if the defective corporate act or acts involved the issuance of putative shares, the number and type of putative shares issued and the date or dates on which the putative shares were purportedly issued;
(4) the nature of the failure of authorization with respect to each defective corporate act to be ratified; and
(5) that the board of directors approves the ratification of the defective corporate act or acts.
(b) A resolution may also state that, notwithstanding shareholder approval of the ratification of a defective corporate act that is a subject of the resolution, the board of directors may, with respect to the defective corporate act, abandon the ratification of the defective corporate act at any time before the validation effective time without further shareholder action.
(1) the defective corporate act or acts to be ratified;
(2) the date of each defective corporate act;
(3) if the defective corporate act or acts involved the issuance of putative shares, the number and type of putative shares issued and the date or dates on which the putative shares were purportedly issued;
(4) the nature of the failure of authorization with respect to each defective corporate act to be ratified; and
(5) that the board of directors approves the ratification of the defective corporate act or acts.
(b) A resolution may also state that, notwithstanding shareholder approval of the ratification of a defective corporate act that is a subject of the resolution, the board of directors may, with respect to the defective corporate act, abandon the ratification of the defective corporate act at any time before the validation effective time without further shareholder action.
Status: in_force · Read it on the official government site
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