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Texas Business Organizations Code - BUS ORG § 3.015. Supplemental Provisions Required in Certificate of Formation of Professional Association

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

(a) In addition to containing the information required under Sections 3.005 and 3.014, the certificate of formation of a professional association must:

(1) be signed by each member of the association; and

(2) state:

(A) the name and address of each original member of the association;

(B) whether the association is to be governed by a board of directors or by an executive committee; and

(C) the name and address of each person serving as an initial member of the board of directors or executive committee of the association.

(b) The certificate of formation of a professional association may contain:

(1) provisions regarding shares or units of ownership in the association;

(2) provisions governing the winding up and termination of the association's business; and

(3) any other provision consistent with state law regulating the internal affairs of a professional association.

(c) If the certificate of formation of a professional association contains provisions regarding shares in the association, the certificate of formation must also comply with Section 3.007.

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 3.015. Supplemental Provisions Required in Certificate of Formation of Professional Association - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-3-015/

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