GroundRules
Tex. Business Organizations Code § 21.051: NO PROPERTY RIGHT IN CERTIFICATE OF FORMATION.
Where this section sits in the code
- BUSINESS ORGANIZATIONS CODE
- TITLE 2. CORPORATIONS
- CHAPTER 21. FOR-PROFIT CORPORATIONS
- SUBCHAPTER B. FORMATION AND GOVERNING DOCUMENTS
A shareholder of a corporation does not have a vested property right resulting from the certificate of formation, including a provision in the certificate of formation relating to the management, control, capital structure, dividend entitlement, purpose, or duration of the corporation.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Collected 2026-08-27T01:46:58Z. Source file · JSON