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Texas Business Organizations Code - BUS ORG § 21.551. Definitions

Current as of January 01, 2024 | Updated by Findlaw Staff

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.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 21.551. Definitions - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-21-551/

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