Texas Business Organizations Code 21.952 – Definitions
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Terms Used In Texas Business Organizations Code 21.952
- Certificate of formation: means :
(A) the document required to be filed with the filing officer under Chapter 3 to form a filing entity; and
(B) if appropriate, a restated certificate of formation and all amendments of an original or restated certificate of formation. See Texas Business Organizations Code 1.002 - 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
- Domestic: means , with respect to an entity, that the entity is formed under this code or the entity's internal affairs are governed by this code. See Texas Business Organizations Code 1.002
- Effects: includes all personal property and all interest in that property. See Texas Government Code 312.011
In this subchapter:
(1) “Public benefit” means a positive effect, or a reduction of a negative effect, on one or more categories of persons, entities, communities, or interests, other than shareholders in their capacities as shareholders of the corporation, including effects of an artistic, charitable, cultural, economic, educational, environmental, literary, medical, religious, scientific, or technological nature.
(2) “Public benefit corporation” means a domestic for-profit corporation that elects under § 3.007(e) to be a public benefit corporation governed by this subchapter.
(3) “Public benefit provisions” means the provisions of a certificate of formation that are required by § 3.007(e) and this subchapter.