Texas Business Organizations Code 1.105 – Internal Affairs
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Terms Used In Texas Business Organizations Code 1.105
- Entity: means a domestic entity or foreign entity. See Texas Business Organizations Code 1.002
- Governing authority: means a person or group of persons who are entitled to manage and direct the affairs of an entity under this code and the governing documents of the entity, except that if the governing documents of the entity or this code divide the authority to manage and direct the affairs of the entity among different persons or groups of persons according to different matters, "governing authority" means the person or group of persons entitled to manage and direct the affairs of the entity with respect to a matter under the governing documents of the entity or this code. See Texas Business Organizations Code 1.002
For purposes of this code, the internal affairs of an entity include:
(1) the rights, powers, and duties of its governing authority, governing persons, officers, owners, and members; and
(2) matters relating to its membership or ownership interests.