Texas Civil Practice and Remedies Code 17.041 – Definition
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Terms Used In Texas Civil Practice and Remedies Code 17.041
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
In this subchapter, “nonresident” includes:
(1) an individual who is not a resident of this state; and
(2) a foreign corporation, joint-stock company, association, or partnership.