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Texas Business Organizations Code - BUS ORG § 4.053. Conditions for Delayed Effectiveness

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

(a) The date, or the date and time, at which a filing instrument takes effect is delayed if the instrument clearly and expressly states, in addition to any other required statement or information:

(1) the specified date, or the specified date and time, at which the instrument takes effect; or

(2) if the instrument takes effect on or after the occurrence of a future event or fact that may occur:

(A) the event or fact that will cause the instrument to take effect;

(B) when the filing instrument is to take effect if the instrument is to take effect after the occurrence of a specified future event or fact; and

(C) the date of the 90th day after the date the instrument is signed.

(b) If the effectiveness of a filing instrument is to be delayed as permitted by Section 4.052:

(1) the effective date may not be later than the 90th day after the date the instrument is signed; and

(2) the specified time at which the instrument is to take effect may not be specified as “12:00 a.m.” or “12:00 p.m.”

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Cite this article: FindLaw.com - Texas Business Organizations Code - BUS ORG § 4.053. Conditions for Delayed Effectiveness - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-organizations-code/bus-org-sect-4-053/

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