Terms Used In Texas Business Organizations Code Chapter 251 > Subchapter G - Capital and Net Savings

• Association: means an entity governed as an association under Title 6 or 7. See Texas Business Organizations Code 1.002
• 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
• cooperative association: means an association governed as a cooperative association under Chapter 251. See Texas Business Organizations Code 1.002
• Individual: means a natural person. See Texas Business Organizations Code 1.002
• Justice: when applied to a magistrate, means justice of the peace. See Texas Government Code 312.011
• Member: means :
  (A) in the case of a limited liability company, a person who has become, and has not ceased to be, a member in the limited liability company as provided by its governing documents or this code;
  (B) in the case of a nonprofit corporation, a person who has membership rights in the nonprofit corporation under its governing documents;
  (C) in the case of a cooperative association, a member of a nonshare or share association;
  (D) in the case of a nonprofit association, a person who has membership rights in the nonprofit association under its governing documents; or
  (E) in the case of a professional association, a person who has membership rights in the professional association under its governing documents. See Texas Business Organizations Code 1.002
• Property: includes tangible and intangible property and an interest in that property. See Texas Business Organizations Code 1.002
• Subscriber: means a person who agrees with or makes an offer to an entity to purchase by subscription an ownership interest in the entity. See Texas Business Organizations Code 1.002