Texas Business and Commerce Code 74.003 – Exemptions
Terms Used In Texas Business and Commerce Code 74.003
- 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.
This chapter does not require registration by:
(1) an accountant providing only accounting services;
(2) an attorney providing only legal counsel;
(3) an insurance company or insurance agent providing only insurance policies to a business;
(4) entities providing only investment and financial advisory services;
(5) an accredited college of optometry or college of medicine in this state;
(6) an optometrist licensed by the Texas Optometry Board or a physician licensed by the Texas Medical Board who has an ownership interest in three or fewer locations;
(7) a community health center, as defined by § 351.367(a), Occupations Code; and
(8) a nonprofit corporation governed by Chapter 22, Business Organizations Code, and exempt from taxation under Section 501(a), Internal Revenue Code of 1986, as an organization described by Section 501(c)(3) of that code, that performs eye care services primarily for homeless, migrant, indigent, or medically underserved populations.