Texas Business Organizations Code 21.219 – Annual and Interim Statements of Corporation
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(a) On written request of a shareholder of the corporation, a corporation shall mail to the shareholder:
(1) the annual statements of the corporation for the last fiscal year that contain in reasonable detail the corporation’s assets and liabilities and the results of the corporation’s operations; and
(2) the most recent interim statements, if any, that have been filed in a public record or other publication.
(b) The corporation shall be allowed a reasonable time to prepare the annual statements.
Terms Used In Texas Business Organizations Code 21.219
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Corporation: means an entity governed as a corporation under Title 2 or 7. See Texas Business Organizations Code 1.002
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- written: means an expression of words, letters, characters, numbers, symbols, figures, or other textual information that is inscribed on a tangible medium or that is stored in an electronic or other medium that is retrievable in a perceivable form. See Texas Business Organizations Code 1.002