Michigan Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act

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This is a sample of certain articles contained in the Texas Business Corp. Act, which may be used across the United States. These articles discuss appraisal rights provisions.
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  • Preview Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act
  • Preview Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act
  • Preview Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act
  • Preview Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act

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Sec. 485. A corporation shall keep books and records of account and minutes of the proceedings of its shareholders or members, board, and executive committee, if any. Unless otherwise provided in the bylaws, the corporation may keep the books, records, and minutes outside this state.

AN ACT to revise, consolidate, and classify the laws relating to the organization and regulation of certain nonprofit corporations; to prescribe their duties, rights, powers, immunities, and liabilities; to provide for the authorization of foreign nonprofit corporations within this state; to impose certain duties on ...

Under Article 2.21 of the Texas Business Corporation Act (TBCA), for example, shareholders or affiliates cannot be held liable for a corporation's contractual obligations unless they caused the corporation to be used to perpetrate ?an actual fraud? primarily for the purpose of personal benefit?.

Sec. 488. (1) An agreement among the shareholders of a corporation that complies with this section is effective among the shareholders and the corporation even though it is inconsistent with this act in 1 or more of the following ways: (a) It eliminates the board or restricts the discretion or powers of the board.

AN ACT to provide for the organization and regulation of corporations; to prescribe their duties, rights, powers, immunities and liabilities; to provide for the authorization of foreign corporations within this state; to prescribe the functions of the administrator of this act; to prescribe penalties for violations of ...

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Michigan Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act