{"data":{"id":"us-tx/tex.-business-organizations-code-21.725","jurisdiction":"us-tx","citation":"Tex. Business Organizations Code § 21.725","heading":"CONSEQUENCES OF MANAGEMENT BY PERSONS OTHER THAN BOARD OF DIRECTORS.","body":"Sections 21.726-21.729 apply only to a close corporation the business and affairs of which are managed wholly or partly by the shareholders of the close corporation or any other person as provided by a shareholders' agreement rather than solely by a board of directors.\nActs 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.","path":["BUSINESS ORGANIZATIONS CODE","TITLE 2. CORPORATIONS","CHAPTER 21. FOR-PROFIT CORPORATIONS","SUBCHAPTER O. CLOSE CORPORATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/BO/htm/BO.21.htm#21.725","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:46:58Z","sha256":"da4b0cb81f9fe906ed68b47990755746fff98418059de2cc1a10638dfb45c79c","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-business-organizations-code-21.724","next":"us-tx/tex.-business-organizations-code-21.726"},"notice":"GroundRules: Original legal text. Not legal advice."}