What is Section 21.411 of the Texas business Organization Code?

(a) Regular meetings of the board of directors of a corporation may be held with or without notice as prescribed by the corporation's bylaws. (b) Special meetings of the board of directors shall be held with notice as prescribed by the bylaws.

What is Section 22.102 of the Texas Business Organization Code?

(a) The initial bylaws of a corporation shall be adopted by the corporation's board of directors or, if the management of the corporation is vested in the corporation's members, by the members.

What is Section 22.351 of the Texas Business Organization Code?

A member of a corporation, on written demand stating the purpose of the demand, is entitled to examine and copy at the member's expense, in person or by agent, accountant, or attorney, at any reasonable time and for a proper purpose, the books and records of the corporation relevant to that purpose.

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Reduction in Authorized Number of Directors

Texas Reduction in Authorized Number of Directors

Name: Texas Reduction in Authorized Number of Directors
Brand: US Legal Forms
Rating: 4.78 (389 reviews)

Category:

Corporations - Public - Directors

State:

Multi-State

Control #:

US-CC-14-170D

Format:

Instant download

Description

This is a Reduction in Authorized Number of Directors form, to be used across the United States. It is used when either the Shareholders, or the Board of Directors, feels that the number of authorized directors should be reduced by a certain amount.

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(b) Except as provided by this code, the certificate of formation of a filing entity may authorize the owners or members of the entity to take action without holding a meeting, providing prior notice, or taking a vote if owners or members of the entity having at least the minimum number of votes that would be necessary ...

(a) Regular meetings of the board of directors of a corporation may be held with or without notice as prescribed by the corporation's bylaws. (b) Special meetings of the board of directors shall be held with notice as prescribed by the bylaws.

(a) The act of a majority of the directors present at a meeting at which a quorum is present at the time of the act is the act of the board of directors of a corporation, unless the act of a greater number is required by the certificate of formation or bylaws of the corporation or by this code.

(a) The initial bylaws of a corporation shall be adopted by the corporation's board of directors or, if the management of the corporation is vested in the corporation's members, by the members.

Section 21.418 - Contracts or Transactions Involving Interested Directors and Officers (a) This section applies to a contract or transaction between a corporation and: (1) one or more directors or officers, or one or more affiliates or associates of one or more directors or officers, of the corporation; or (2) an ...

Current with legislation from the 2023 Regular and Special Sessions effective as of September 1, 2023. Section 21.218 - Examination of Records (a) In this section, a holder of a beneficial interest in a voting trust entered into under Section 6.251 is a holder of the shares represented by the beneficial interest.

A member of a corporation, on written demand stating the purpose of the demand, is entitled to examine and copy at the member's expense, in person or by agent, accountant, or attorney, at any reasonable time and for a proper purpose, the books and records of the corporation relevant to that purpose.

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... the corporation is authorized to issue is reduced by the number of shares ... fill more than two vacancies created by an increase in the number of directors. If not restricted by the certificate of formation, the board of directors may increase or decrease the number of unissued shares in a series by adopting a ...The number of directors may be increased or decreased by amendment to, or in the manner provided by, the certificate of formation or bylaws. A decrease in the ... The number of Directors authorized will be fixed as the Board of Directors ... A directorship to be filled by reason of an increase in the number of Directors may ... Jun 26, 2015 — The Board of Directors shall complete this process within 90 days after the certification of the shareholder vote and shall report its decision ... When such a vacancy arises, the typical procedure is for the remaining board members to find a suitable candidate to fill that role, nominate them, and vote ... Completing training as a member of the governmental body satisfies the training requirements for the member's service on a committee or subcommittee of the ... The following are Texas's requirements for directors of corporations: ... Texas does not require a state tax identification number. Texas business licenses. If the board of directors is divided into three classes, the authorized number of directors shall be no less than nine and one-third of the directors or as ... (a) The superior court of the proper county may, at the suit of a director, or twice the authorized number (Section 5036) of members, remove from office any ...

Texas Reduction in Authorized Number of Directors

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How to fill out Texas Reduction In Authorized Number Of Directors?

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FAQ

What is required for an action to be taken by shareholders without a meeting in Texas?

What is Section 21.411 of the Texas business Organization Code?

What is Section 21.415 of the Texas Business Organization Code?

What is Section 21.415 of the Texas business Organization Code?

What is Section 22.102 of the Texas Business Organization Code?

What is Section 21.418 of the Texas Business Organization Code?

What is Section 21.218 of the Texas business Organization Code?

What is Section 22.351 of the Texas Business Organization Code?

Interesting Questions

What does reduction in authorized number of directors mean?

Why would a company want to reduce the authorized number of directors?

How can a company reduce its authorized number of directors?

Are there any legal requirements or restrictions for reducing the authorized number of directors?

Can reducing the authorized number of directors affect corporate governance?

What should a company consider before reducing its authorized number of directors?

Will reducing the authorized number of directors affect the responsibilities of the remaining directors?

Can a company later increase the authorized number of directors after a reduction?

How can shareholders be involved in the decision to reduce the authorized number of directors?

What happens to the directors who are cut or eliminated?

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