{"data":{"id":"us-tx/tex.-business-organizations-code-21.551","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 21.551","heading":"DEFINITIONS.","body":"In this subchapter:\n(1) \"Derivative proceeding\" means a civil suit in the right of a domestic corporation or, to the extent provided by Section 21.562, in the right of a foreign corporation.\n(2) \"Shareholder\" includes:\n(A) a shareholder as defined by Section 1.002;\n(B) a beneficial owner whose shares are held in a voting trust or by a nominee on the beneficial owner's behalf; or\n(C) two or more shareholders acting in concert under an informal or formal agreement or understanding with respect to a derivative proceeding.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.\nAmended by:\nActs 2019, 86th Leg., R.S., Ch. 899 (H.B. 3603), Sec. 1, eff. September 1, 2019.\nActs 2021, 87th Leg., R.S., Ch. 39 (S.B. 1203), Sec. 23, eff. September 1, 2021.\nActs 2025, 89th Leg., R.S., Ch. 21 (S.B. 29), Sec. 12, eff. May 14, 2025.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 2. CORPORATIONS","CHAPTER 21. FOR-PROFIT CORPORATIONS","SUBCHAPTER L. DERIVATIVE PROCEEDINGS"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.21.htm#21.551","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"b7a412e35f65a0692c11c484d2d7881879e794c11af3a7ec8a70ed93a561981f","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-21.504","next":"us-tx/tex.-business-organizations-code-21.552"},"notice":"GroundRules: Original legal text. Not legal advice."}