South Carolina Articles 5.11, 5.12, and 5.13 of the Texas Business Corporation Act pertain to fundamental corporate changes and filings required by corporations in the state of Texas. These articles outline various procedures and requirements that corporations must follow when making significant changes to their structure or operations. Article 5.11 of the Texas Business Corporation Act deals with the amendment of articles of incorporation. It specifies the conditions under which a corporation can amend its articles, such as changing its corporate name, increasing or decreasing authorized shares, or altering any other provisions outlined in the original articles. This article also outlines the process and filings required to effectuate these changes, including submitting the amendments to the appropriate authorities. Article 5.12 focuses on the merger or consolidation of corporations. It details the steps corporations must take when merging or consolidating with other entities, whether within Texas or involving out-of-state corporations. This article discusses the necessary shareholder and board of directors' approvals, drafting and filing appropriate agreements like a plan of merger or consolidation, as well as reporting requirements to the Secretary of State and affected shareholders. Lastly, Article 5.13 pertains to the sale, lease, or exchange of substantially all assets. It outlines the terms and conditions governing transactions involving the sale, lease, or exchange of a significant portion of a corporation's assets. This article highlights the requirement for board of directors' approval, disclosure of relevant information to the shareholders, and the filing of appropriate documents with the Secretary of State. While these articles specifically refer to the provisions under the Texas Business Corporation Act, there are no South Carolina-specific versions of Articles 5.11, 5.12, and 5.13. It is important to note that the South Carolina reference in the initial question might be a typo, as the Texas Business Corporation Act does not have articles specific to South Carolina.
South Carolina Articles 5.11, 5.12 and 5.13 of Texas Business Corporation Act
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