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Texas Business Organizations Code - BUS ORG § 251.153. Subscribers

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

(a) A person is a subscriber of a cooperative association only if the person is:

(1) eligible for membership in the cooperative association under Section 251.151;  and

(2) legally obligated to purchase a share or membership in the cooperative association.

(b) The certificate of formation or bylaws of a cooperative association may state whether and the conditions under which voting rights or other membership rights are granted to a subscriber of the cooperative association.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 251.153. Subscribers - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-251-153/

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