reglab/housing_qa huggingface dataset:
TX Bus Orgs § 23.065 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter B. Business Development Corporations|Section 23.065. Voting by Shareholder or Member

Sec. 23.065.  VOTING BY SHAREHOLDER OR MEMBER.  (a)  Each shareholder of a corporation has one vote, in person or by proxy, for each share held by the shareholder.(b)  Each member of a corporation has one vote in person or by proxy.(c)  A member with a loan limit that exceeds $1,000 has one additional vote, in person or by proxy, for each additional $1,000 the member may have outstanding on loans to the corporation at any one time as determined under Section 23.068.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.066 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter B. Business Development Corporations|Section 23.066. Loan to Corporation

Sec. 23.066.  LOAN TO CORPORATION.  (a)  When called on by a corporation to make a loan to the corporation, a member of the corporation shall make the loan on those terms and conditions periodically approved by the board of directors.(b)  A loan made to the corporation by a member shall be evidenced by a bond, debenture, note, or other evidence of indebtedness of the corporation that:(1)  is freely transferable at any time;  and(2)  accrues interest at a rate of not less than one-fourth of one percent more than the rate of interest determined by the board of directors to be the prime rate prevailing on the date of issuance on unsecured commercial loans.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.067 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter B. Business Development Corporations|Section 23.067. Prohibited Loan

Sec. 23.067.  PROHIBITED LOAN.  (a)  A member may not make a loan to a corporation if, immediately after the loan would be made, the total amount of the obligations of the corporation would exceed 50 times the capital of the corporation.(b)  For purposes of this section, the capital of the corporation includes the amount of the outstanding shares of the corporation, whether common or preferred, and the earned or paid-in surplus of the corporation.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.068 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter B. Business Development Corporations|Section 23.068. Loan Limits

Sec. 23.068.  LOAN LIMITS.  (a)  A loan limit shall be established at the $1,000 amount nearest to the amount computed in accordance with this section.(b)  The total amount outstanding on loans made to a corporation by a member at any one time, when added to the amount of the investment in the shares of the corporation then held by the member, may not exceed:(1)  20 percent of the total amount then outstanding on loans to the corporation by all members, including outstanding amounts validly called for a loan but not yet loaned;  or(2)  the following limit, to be determined as of the time the member becomes a member of the corporation, or at any time requested by a member on the basis of the audited balance sheet of the member at the close of its fiscal year immediately preceding its application for membership or, in the case of an insurance company, its last annual statement to the Texas Department of Insurance:(A)  an amount equal to the lesser of $750,000 or two percent of the capital and surplus of a commercial bank or trust company;(B)  an amount equal to one percent of the total outstanding loans made by a savings and loan association;(C)  an amount equal to one percent of the capital and unassigned surplus of a stock insurance company other than a fire insurance company;(D)  an amount equal to one percent of the unassigned surplus of a mutual insurance company other than a fire insurance company;(E)  an amount equal to one-tenth of one percent of the assets of a fire insurance company;  or(F)  the limits approved by the board of directors of the corporation for a government pension fund or other financial institution.(c)  Subject to Subsection (b), each call made by the corporation shall be prorated among the members of the corporation in substantially the same proportion that the adjusted loan limit of each member bears to the aggregate of the adjusted loan limits of all members.(d)  For purposes of Subsection (c), the adjusted loan limit of a member is the amount of the member's loan limit, reduced by the balance of outstanding loans made by the member to the corporation and the investment in shares of the corporation held by the member at the time of the call.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.069 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter B. Business Development Corporations|Section 23.069. Surplus

Sec. 23.069.  SURPLUS.  (a)  A corporation shall set apart as earned surplus not less than 10 percent of the corporation's net earnings each year until the surplus, with any unimpaired surplus paid in, is equal to one-half of the amount paid in on the shares then outstanding.  The surplus shall be kept to secure against losses and contingencies.  If the surplus becomes impaired, the surplus shall be reimbursed in the manner provided for its accumulation.(b)  Net earnings and surplus shall be determined by the board of directors after providing for the required reserves as the directors consider advisable.  A good faith determination of net earnings and surplus by the directors under this subsection is conclusive.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.070 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter B. Business Development Corporations|Section 23.070. Depository

Sec. 23.070.  DEPOSITORY.  (a)  A corporation may deposit the corporation's funds in a banking institution that has been designated as a depository by a vote of the majority of the directors present at an authorized meeting of the board of directors of the corporation, excluding a director who is an officer or director of the designated depository.(b)  The corporation may not receive money on deposit.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.071 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter B. Business Development Corporations|Section 23.071. Annual Report; Provision of Required Information

Sec. 23.071.  ANNUAL REPORT;  PROVISION OF REQUIRED INFORMATION.  (a)  A corporation shall annually make a report of its condition to the banking commissioner and the Texas Department of Insurance.(b)  A corporation shall provide any information that is required by the secretary of state.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.101 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter C. Grand Lodges|Section 23.101. Formation

Sec. 23.101.  FORMATION.  (a)  An institution or order, by resolution or other consent of its members, may incorporate under this subchapter if the institution or order is:(1)  the grand lodge of Texas, Ancient, Free and Accepted Masons;(2)  the Grand Royal Arch Chapter of Texas;(3)  the Grand Commandery of Knights Templars of Texas;(4)  the grand lodge of the Independent Order of Odd Fellows of Texas;  or(5)  another similar institution or order organized for charitable or benevolent purposes.(b)  A corporation formed under this subchapter shall file a certificate of formation in accordance with Chapter 4 that complies with this subchapter.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.102 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter C. Grand Lodges|Section 23.102. Applicability of Chapter 22

Sec. 23.102.  APPLICABILITY OF CHAPTER 22.  If this subchapter does not contain any provision regarding a matter provided for in Chapter 22, to the extent consistent with this subchapter, Chapter 22 applies to a corporation formed under this subchapter.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.103 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter C. Grand Lodges|Section 23.103. Duration

Sec. 23.103.  DURATION.  A grand body that incorporates under this subchapter may provide in the grand body's certificate of formation for the expiration of its corporate powers at the end of a stated number of years.  If the certificate of formation does not provide for the duration of the grand body, the grand body has perpetual existence.  The grand body may by its corporate name have perpetual succession of its officers and members.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.104 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter C. Grand Lodges|Section 23.104. Subordinate Lodges

Sec. 23.104.  SUBORDINATE LODGES.  (a)  The incorporation of a grand body includes each of its subordinate lodges or bodies holding a warrant or charter under the grand body.(b)  A subordinate body has all of the rights of other corporations under and by the name given to the grand body in the warrant or charter issued to the grand body to which it is attached.  Those rights shall be provided for in the charter of the grand body.(c)  A subordinate body is subject to the jurisdiction and control of its respective grand body, and the warrant or charter of the subordinate body may be revoked by the grand body.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.105 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter C. Grand Lodges|Section 23.105. Trustees and Directors

Sec. 23.105.  TRUSTEES AND DIRECTORS.  A grand body and a subordinate of the grand body may elect trustees and directors or may appoint trustees or directors from among their officers.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.106 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter C. Grand Lodges|Section 23.106. Franchise Taxes

Sec. 23.106.  FRANCHISE TAXES.  A corporation formed under this subchapter is not subject to or required to pay a franchise tax, except that a corporation is exempt from the franchise tax imposed by Chapter 171, Tax Code, only if the corporation is exempted by that chapter.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.107 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter C. Grand Lodges|Section 23.107. General Powers

Sec. 23.107.  GENERAL POWERS.  A grand body and a subordinate of the grand body may take action as directed or provided by law in the case of other corporations and may make constitutions and bylaws to govern their affairs.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.108 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter C. Grand Lodges|Section 23.108. Authority Regarding Property

Sec. 23.108.  AUTHORITY REGARDING PROPERTY.  (a)  A grand body or subordinate body may acquire and hold property as necessary or convenient for a site on which to erect a building for the use and occupancy of the body and to erect homes and schools for members' widows or orphans or elderly, disabled, or indigent members and may sell or mortgage the property.(b)  A conveyance must be executed by the presiding officer and attested to by the secretary with the seal.(c)  The authority of a subordinate body to sell or to mortgage property is subject to the conditions periodically prescribed or established by the grand body to which the subordinate is attached.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.109 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter C. Grand Lodges|Section 23.109. Authority Regarding Loans

Sec. 23.109.  AUTHORITY REGARDING LOANS.  (a)  A grand body incorporated under this subchapter may:(1)  loan money held and owned by the grand body for charitable purposes, for the endowment of any of the institutions of the grand body, or otherwise;  and(2)  secure loans by taking and receiving liens on real property or by another method elected by the grand body.(b)  On sale of real property secured by a lien, a grand body may become the purchaser of the real property and hold title to the property.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 23.110 (2021)
2021 Texas Statutes|Business Organizations Code|Title 2 - Corporations|Chapter 23 - Special-Purpose Corporations|Subchapter C. Grand Lodges|Section 23.110. Winding Up and Termination of Subordinate Body

Sec. 23.110.  WINDING UP AND TERMINATION OF SUBORDINATE BODY.  (a)  On the winding up and termination of a subordinate body attached to a grand body, all property and rights existing in the subordinate body pass to and vest in the grand body to which it was attached, subject to the payment of any debt owed by the subordinate body.(b)  Notwithstanding a grand body's liability for the debt of a subordinate body under Subsection (a), the grand body is not liable for an amount greater than the actual cash value of the subordinate body's effects or authority.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.001 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter A. General Provisions|Section 101.001. Definitions

Sec. 101.001.  DEFINITIONS.  In this title:(1)  "Company agreement" means any agreement, written or oral, of the members concerning the affairs or the conduct of the business of a limited liability company.  A company agreement of a limited liability company having only one member is not unenforceable because only one person is a party to the company agreement.(2)  "Foreign limited liability company" or "foreign company" means a limited liability company formed under the laws of a jurisdiction other than this state.(3)  "Limited liability company" or "company" means a domestic limited liability company subject to this title.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.002 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter A. General Provisions|Section 101.002. Applicability of Other Laws

Sec. 101.002.  APPLICABILITY OF OTHER LAWS.  (a)  Subject to Section 101.114, Sections 21.223, 21.224, 21.225, and 21.226 apply to a limited liability company and the company's members, owners, assignees, affiliates, and subscribers.(b)  For purposes of the application of Subsection (a):(1)  a reference to "shares" includes "membership interests";(2)  a reference to "holder," "owner," or "shareholder" includes a "member" and an "assignee";(3)  a reference to "corporation" or "corporate" includes a "limited liability company";(4)  a reference to "directors" includes "managers" of a manager-managed limited liability company and "members" of a member-managed limited liability company;(5)  a reference to "bylaws" includes "company agreement"; and(6)  the reference to "Sections 21.157-21.162" in Section 21.223(a)(1) refers to the provisions of Subchapter D of this chapter.|Added by Acts 2011, 82nd Leg., R.S., Ch. 25 (S.B. 323), Sec. 1, eff. September 1, 2011.|
TX Bus Orgs § 101.051 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter B. Formation and Governing Documents|Section 101.051. Certain Provisions Contained in Certificate of Formation

Sec. 101.051.  CERTAIN PROVISIONS CONTAINED IN CERTIFICATE OF FORMATION.  (a)  A provision that may be contained in the company agreement of a limited liability company may alternatively be included in the certificate of formation of the company as provided by Section 3.005(b).(b)  A reference in this title to the company agreement of a limited liability company includes any provision contained in the company's certificate of formation instead of the company agreement as provided by Subsection (a).|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.0515 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter B. Formation and Governing Documents|Section 101.0515. Execution of Filings

Text of section effective until June 01, 2022Sec. 101.0515.  EXECUTION OF FILINGS.  Unless otherwise provided by this title, a filing instrument of a limited liability company must be signed by an authorized officer, manager, or member of the limited liability company.|Added by Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 96, eff. September 1, 2007.Amended by: Acts 2021, 87th Leg., R.S., Ch. 43 (S.B. 1523), Sec. 23, eff. June 1, 2022.|
TX Bus Orgs § 101.0515 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter B. Formation and Governing Documents|Section 101.0515. Execution of Filings

Text of section effective on June 01, 2022Sec. 101.0515.  EXECUTION OF FILINGS.  (a) Unless otherwise provided by this title, a filing instrument of a limited liability company must be signed by an authorized officer, manager, or member of the limited liability company.(b)  Unless otherwise provided by this title, a filing instrument of a registered series of a domestic limited liability company must be signed by an authorized officer, manager, or member of the registered series.|Added by Acts 2007, 80th Leg., R.S., Ch. 688 (H.B. 1737), Sec. 96, eff. September 1, 2007.Amended by: Acts 2021, 87th Leg., R.S., Ch. 43 (S.B. 1523), Sec. 23, eff. June 1, 2022.|
TX Bus Orgs § 101.052 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter B. Formation and Governing Documents|Section 101.052. Company Agreement

Sec. 101.052.  COMPANY AGREEMENT.  (a)  Except as provided by Section 101.054, the company agreement of a limited liability company governs:(1)  the relations among members, managers, and officers of the company, assignees of membership interests in the company, and the company itself;  and(2)  other internal affairs of the company.(b)  To the extent that the company agreement of a limited liability company does not otherwise provide, this title and the provisions of Title 1 applicable to a limited liability company govern the internal affairs of the company.(c)  Except as provided by Section 101.054, a provision of this title or Title 1 that is applicable to a limited liability company may be waived or modified in the company agreement of a limited liability company.(d)  The company agreement may contain any provisions for the regulation and management of the affairs of the limited liability company not inconsistent with law.(e)  A company agreement may provide rights to any person, including a person who is not a party to the company agreement, to the extent provided by the company agreement.(f)  A company agreement is enforceable by or against the limited liability company, regardless of whether the company has signed or otherwise expressly adopted the agreement.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.Amended by: Acts 2013, 83rd Leg., R.S., Ch. 9 (S.B. 847), Sec. 5, eff. September 1, 2013.Acts 2017, 85th Leg., R.S., Ch. 74 (S.B. 1517), Sec. 8, eff. September 1, 2017.Acts 2021, 87th Leg., R.S., Ch. 39 (S.B. 1203), Sec. 26, eff. September 1, 2021.|Sec. 101.053.  AMENDMENT OF COMPANY AGREEMENT.  The company agreement of a limited liability company may be amended only if each member of the company consents to the amendment.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|
TX Bus Orgs § 101.055 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter B. Formation and Governing Documents|Section 101.055. Irrevocable Power of Attorney

Sec. 101.055.  IRREVOCABLE POWER OF ATTORNEY.  (a)  This section applies only to:(1)  a power of attorney with respect to matters relating to the organization, internal affairs, or termination of a limited liability company; or(2)  a power of attorney granted by:(A)  a person as a member of or assignee of a membership interest in a limited liability company; or(B)  a person seeking to become a member of or assignee of a membership interest in a limited liability company.(b)  A power of attorney is irrevocable for all purposes if the power of attorney:(1)  is coupled with an interest sufficient in law to support an irrevocable power; and(2)  states that it is irrevocable.(c)  Unless otherwise provided in the power of attorney, an irrevocable power of attorney created under this section is not affected by the subsequent death, disability, incapacity, winding up, dissolution, termination of existence, or bankruptcy of, or any other event concerning, the principal.(d)  A power of attorney granted to the limited liability company, a member of the company, or any of their respective officers, directors, managers, members, partners, trustees, employees, or agents is conclusively presumed to be coupled with an interest sufficient in law to support an irrevocable power.|Added by Acts 2015, 84th Leg., R.S., Ch. 23 (S.B. 859), Sec. 2, eff. September 1, 2015.|
TX Bus Orgs § 101.101 (2021)
2021 Texas Statutes|Business Organizations Code|Title 3 - Limited Liability Companies|Chapter 101 - Limited Liability Companies|Subchapter C. Membership|Section 101.101. Members Required

Sec. 101.101.  MEMBERS REQUIRED.  (a)  A limited liability company may have one or more members.  Except as provided by this section, a limited liability company must have at least one member.(b)  A limited liability company that has managers is not required to have any members during a reasonable period between the date the company is formed and the date the first member is admitted to the company.(c)  A limited liability company is not required to have any members during the period between the date the continued membership of the last remaining member of the company is terminated and the date the agreement to continue the company described by Section 11.056 is executed.|Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.|