Texas Government Code 4005.053 – Nonprofit Corporations
Current as of: 2024 | Check for updates
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Terms Used In Texas Government Code 4005.053
- 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.
The exemption provided by § 4005.051 applies to a security issued and sold by a domestic corporation that:
(1) is not organized and engaged in business for profit; and
(2) does not have capital stock.