Source: https://chowinslaw.com/resources/texas-business-laws/280-meetings-and-voting-for-texas-business-organizations
Timestamp: 2019-04-23 04:15:55+00:00

Document:
§ 6.001. LOCATION OF MEETINGS.
(2) agreed to by all persons entitled to notice of the meeting.
(b) If the location of meetings of the owners or members of the entity is not established under Subsection (a), the owners or members may hold meetings only at the registered office of the entity in this state or the principal office of the entity.
§ 6.002. ALTERNATIVE FORMS OF MEETINGS.
(a) Subject to this code and the governing documents of a domestic entity, the owners, members, or governing persons of the entity, or a committee of the owners, members, or governing persons, may hold meetings by using a conference telephone or similar communications equipment, or another suitable electronic communications system, including videoconferencing technology or the Internet, or any combination, if the telephone or other equipment or system permits each person participating in the meeting to communicate with all other persons participating in the meeting.
§ 6.003. PARTICIPATION CONSTITUTES PRESENCE.
A person participating in a meeting is considered present at the meeting, unless the participation is for the express purpose of objecting to the transaction of business at the meeting on the ground that the meeting has not been lawfully called or convened.
§ 6.051. GENERAL NOTICE REQUIREMENTS.
(B) if the meeting is held solely or in part by using a conference telephone or other communications system authorized by § 6.002, the form of communications system to be used for the meeting and the means of accessing the communications system.
(2) transmitted by facsimile or electronic message is considered to be given when the facsimile or electronic message is transmitted to a facsimile number or an electronic message address provided by the person, or to which the person consents, for the purpose of receiving notice.
§ 6.052. WAIVER OF NOTICE.
(a) Notice of a meeting is not required to be given to an owner, member, or governing person of a domestic entity, or a member of a committee of the owners, members, or governing persons, entitled to notice under this code or the governing documents of the entity if the person entitled to notice signs a written waiver of notice of the meeting, regardless of whether the waiver is signed before or after the time of the meeting.
(b) If a person entitled to notice of a meeting participates in or attends the meeting, the person's participation or attendance constitutes a waiver of notice of the meeting unless the person participates in or attends the meeting solely to object to the transaction of business at the meeting on the ground that the meeting was not lawfully called or convened.
(c) Unless required by the certificate of formation or the governing documents, the business to be transacted at a meeting of the owners, members, or governing persons of a domestic entity, or the members of a committee of the governing persons, or the purpose of such a meeting, is not required to be specified in a written waiver of notice of the meeting.
(d) The participation or attendance at a meeting of a person entitled to notice of the meeting constitutes a waiver by the person of notice of a particular matter at the meeting that is not included in the purposes or business of the meeting described in the notice unless the person objects to considering the matter when it is presented.
(2) all, but in no event less than two, payments of distribution or interest on securities during a 12-month period if the payments are sent by first class mail.
(b) Notice of a meeting is not required to be given to an owner or member entitled to notice under this code or the governing documents of a filing entity the notice requirements of which are subject to the Securities Exchange Act of 1934, as amended (15 U.S.C. § 78a et seq.), if the person entitled to notice of the meeting is considered a lost security holder under that Act and the regulations adopted under that Act.
(c) An action taken or a meeting held without giving notice to a person not entitled to notice under this section has the same force and effect as if notice had been given to the person.
(d) A certificate or other document filed with the filing officer as a result of a meeting held or an action taken by a filing entity without giving notice of the meeting or action to a person not entitled to notice under this section may state that notice of the meeting or action was given to each person entitled to notice.
(e) Notice of a meeting must be given to a person not entitled to notice of the meeting under this section if the person delivers to the filing entity a written notice of the person's address.
§ 6.101. RECORD DATE FOR PURPOSE OTHER THAN WRITTEN CONSENT TO ACTION.
(2) any other proper purpose other than for determining the owners or members entitled to consent to action without a meeting of the owners or members.
(b) Subject to this code and the governing documents of a domestic entity, the governing authority of the entity, in advance, may provide a record date for determining the owners or members of the entity, except that the date may not be earlier than the 60th day before the date the action requiring the determination of owners or members is originally to be taken.
(c) Subject to this code and the governing documents of a domestic entity, the governing authority of the entity may provide for the closing of the ownership or membership transfer records of the entity for a period of not longer than 60 days to determine the owners or members of the entity for a purpose described by Subsection (a).
(2) with respect to a distribution, other than a distribution involving a purchase or redemption by the domestic entity of any of its own securities, the governing authority adopts the resolution declaring the distribution.
(2) the period during which the transfer records are closed expires.
§ 6.102. RECORD DATE FOR WRITTEN CONSENT TO ACTION.
(a) Subject to this code and the governing documents of a domestic entity, the governing authority of the domestic entity may provide the record date for determining the owners or members of the domestic entity entitled to written consent to action without a meeting of the owners or members unless a record date is provided under § 6.101 for that action. The record date may not be earlier than the date the governing authority adopts the resolution providing for the record date.
(2) prior action by the governing authority is not required under this code.
(2) prior action by the governing authority is required by this code.
§ 6.103. RECORD DATE FOR SUSPENDED DISTRIBUTIONS.
(2) is paid or delivered by the entity making the distribution into an escrow account or to a trustee or custodian.
(b) A distribution made by a domestic entity shall be payable by the entity, or an escrow agent, trustee, or custodian of the distribution, to the owner or member determined on the record date for the distribution as provided by this subchapter.
(c) The right to a distribution under this section may be transferred by contract, by operation of law, or under the laws of descent and distribution.
§ 6.151. MANNER OF VOTING OF INTERESTS.
Subject to the title governing the domestic entity, voting of interests of a domestic entity must be conducted in the manner provided by the governing documents of the entity.
§ 6.152. VOTING OF INTERESTS OWNED BY ENTITY.
(2) included in determining at any time the total number of outstanding ownership interests of the domestic entity.
(b) This section does not preclude a domestic or foreign entity from voting an ownership interest, including an interest in the entity, held or controlled by the entity in a fiduciary capacity or for which the entity otherwise exercises voting power in a fiduciary capacity.
§ 6.153. VOTING OF INTERESTS OWNED BY ANOTHER ENTITY.
(2) the governing authority of the entity that owns the interest, if the governing documents do not provide for the manner of voting.
§ 6.154. VOTING OF INTERESTS IN AN ESTATE OR TRUST.
(a) An administrator, executor, guardian, or conservator of an estate who holds an ownership interest as part of the estate may vote the interest, in person or by proxy, without transferring the interest into the person's name.
(2) a person authorized to act on behalf of the trust by the trust agreement or the trustee.
§ 6.155. VOTING OF INTERESTS BY RECEIVER.
(a) A receiver may vote an ownership interest standing in the name of the receiver.
(b) A receiver may vote an ownership interest held by or under the control of the receiver without transferring the interest into the receiver's name if the court appointing the receiver authorizes the receiver to vote the interest.
§ 6.156. VOTING OF PLEDGED INTERESTS.
(2) the pledgee after the pledged interest is transferred into the pledgee's name.
§ 6.157. VOTING OF JOINTLY HELD OWNERSHIP INTERESTS.
(2) an ownership interest for which two or more persons have the right to vote the interest under § 6.154.
(2) for a jointly held ownership interest as defined by Subsection (a)(2), any one of the persons having the right to vote the interest, as described by § 6.154.
(c) If a jointly held ownership interest is voted by more than one person as described by Subsection (b), the act of a majority of the persons voting binds all of the record owners or persons having the right to vote the interest.
(d) If a jointly held ownership interest is voted by more than one person as described by Subsection (b), and the votes of the persons are evenly split on any particular matter, each faction may vote the interest proportionately.
(e) Subsection (b), (c), or (d) does not apply if the secretary or other person tabulating votes on the entity's behalf has a good faith belief, based on written information the person received regarding rights or obligations with respect to voting the jointly held ownership interest, that reliance on Subsection (b), (c), or (d), as applicable, is unwarranted.
§ 6.201. UNANIMOUS WRITTEN CONSENT TO ACTION.
§ 6.202. ACTION BY LESS THAN UNANIMOUS WRITTEN CONSENT.
(c) A written consent or consents described by Subsection (b) must include the date each owner or member signed the consent and is effective to take the action that is the subject of the consent only if the consent or consents are delivered to the entity not later than the 60th day after the date the earliest dated consent is delivered to the entity as required by § 6.203.
§ 6.203. DELIVERY OF LESS THAN UNANIMOUS WRITTEN CONSENT.
(2) the managerial official or agent of the entity having custody of the entity's records of meetings of owners or members.
(b) A consent delivered to an entity's principal executive office or place of business under Subsection (a)(1) must be addressed to the chief managerial official of the entity or, if the entity does not have a chief managerial official, the governing authority of the entity.
§ 6.204. ADVANCE NOTICE NOT REQUIRED.
Any advance notice required by this code for an action to be taken at a meeting is not required to be given to take the action by written consent as provided by this subchapter.
§ 6.205. REPRODUCTION OR ELECTRONIC TRANSMISSION OF CONSENT.
(a) Any photographic, photostatic, facsimile, or similarly reliable reproduction of a consent in writing signed by an owner, member, or governing person of a filing entity may be substituted or used instead of the original writing for any purpose for which the original writing could be used.
(2) the date on which the owner, member, or governing person transmitted the electronic transmission.
(c) Unless the consent is otherwise dated, the date specified in Subsection (b)(2) is the date on which the consent is considered signed.
(a) Except as provided by this code or the governing documents, any number of owners of a domestic entity may enter into a written voting trust agreement to confer on a trustee the right to vote or otherwise represent ownership or membership interests of the domestic entity.
(b) An ownership or membership interest that is the subject of a voting trust agreement described by Subsection (a) shall be transferred to the trustee named in the agreement for purposes of the agreement.
(2) a holder of a beneficial interest in the voting trust, whether in person or by the holder's agent or attorney, at any reasonable time for any proper purpose.
(a) Except as provided by this code or the governing documents, any number of owners of a domestic entity, or any number of owners of the domestic entity and the domestic entity itself, may enter into a written voting agreement to provide the manner of voting of the ownership interests of the domestic entity. A voting agreement entered into under this subsection is not part of the governing documents of the domestic entity.
(2) is subject to examination by an owner, whether in person or by the owner's agent or attorney, in the same manner as the owner is entitled to examine the books and records of the domestic entity.
(2) a notation of the voting agreement is contained in a notice sent by or on behalf of the domestic entity in accordance with § 3.205, if the ownership interest is not represented by a certificate.
(d) Except as provided by Subsection (e), a voting agreement entered into under Subsection (a) is specifically enforceable against any person, other than a transferee for value, after the time the person acquires actual knowledge of the existence of the agreement.
(e) An otherwise enforceable voting agreement entered into under Subsection (a) is not enforceable against a transferee for value without actual knowledge of the existence of the agreement at the time of the transfer, or any subsequent transferee, without regard to value, if the voting agreement is not noted as required by Subsection (c).
(f) § 6.251 does not apply to a voting agreement entered into under Subsection (a).
§ 6.301. APPLICABILITY OF CHAPTER TO PARTNERSHIPS.
This chapter does not apply to a general partnership or a limited partnership except to the extent its governing documents specify.
§ 6.302. APPLICABILITY OF SUBCHAPTERS C AND D TO LIMITED LIABILITY COMPANIES.
Subchapters C and D do not apply to a limited liability company except to the extent its governing documents specify.

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