Texas Business Organizations Code - BUS ORG § 22.356. Corporations Assisting State Agencies

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(a) In this section, “state agency” means:

(1) a board, commission, department, office, or other entity that is in the executive branch of state government and that was created by the constitution or a statute of this state, including an institution of higher education as defined by Section 61.003, Education Code;

(2) the legislature or a legislative agency;  or

(3) the supreme court, the court of criminal appeals, a court of appeals, the state bar, or another state judicial agency.

(b) The books and records of a corporation other than a bona fide alumni association are subject to audit at the discretion of the state auditor if:

(1) the corporation's certificate of formation specifically dedicates the corporation's activities to the benefit of a particular state agency;  and

(2) a board member, officer, or employee of that state agency is a director of the corporation.

(c) If the corporation's charter specifically dedicates the corporation's activities to the benefit of a particular state agency but the conditions described by Subsection (b)(2) do not exist, a corporation shall file with the secretary of state a copy of the report required by Section 22.352(b) for the preceding fiscal year not later than the 89th day after the last day of the corporation's fiscal year.

Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 22.356. Corporations Assisting State Agencies - last updated April 14, 2021 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-22-356/


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