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Texas Business Organizations Code - BUS ORG § 3.008. Supplemental Provisions Required in Certificate of Formation of Close Corporation

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

(a) In addition to a provision required or permitted to be stated in the certificate of formation of a for-profit or professional corporation under Section 3.007, the certificate of formation of a close corporation, whether original, amended, or restated, must include the sentence, “This corporation is a close corporation.”

(b) The certificate of formation of the close corporation may contain:

(1) a provision contained or permitted to be contained in a shareholders' agreement conforming to Subchapter O, Chapter 21,  1 that the organizers elect to include in the certificate of formation; or

(2) a copy of a shareholders' agreement that conforms to Subchapter O, Chapter 21, and that may be filed in the manner provided by Section 21.212.

(c) A provision contained in the certificate of formation under Subsection (b) must be preceded by a statement that the provision is subject to the corporation remaining a close corporation.

1 V.T.C.A., Business Organizations Code § 21.701 et seq.
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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 3.008. Supplemental Provisions Required in Certificate of Formation of Close Corporation - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-3-008/

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