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Terms Used In Texas Agriculture Code 54.012

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Year: means 12 consecutive months. See Texas Government Code 311.005

Before January 11 and July 11 of each year, a corporation formed under this chapter shall file with the secretary of state a report showing:
(1) its financial condition on January 1 and July 1, respectively; and
(2) the amount of outstanding preferred and common stock.