Sec. 10.010. SPECIAL PROVISIONS APPLYING TO NONPROFIT CORPORATION AND NONPROFIT ASSOCIATION MERGERS. (a) A domestic nonprofit corporation or nonprofit association may not merge into another entity if the domestic nonprofit corporation or nonprofit association would, because of the merger, lose or impair its charitable status.
(b) One or more domestic or foreign for-profit entities or non-code organizations may merge into one or more domestic nonprofit corporations or nonprofit associations that continue as the surviving entity or entities.
(c) A domestic nonprofit corporation or nonprofit association may not merge with a foreign for-profit entity if the domestic nonprofit corporation or nonprofit association does not continue as the surviving entity.
(d) One or more domestic nonprofit corporations or nonprofit associations and non-code organizations may merge into one or more foreign nonprofit entities that continue as the surviving entity or entities.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 75 (S.B. 1518), Sec. 4, eff. September 1, 2017.
Structure Texas Statutes
Chapter 10 - Mergers, Interest Exchanges, Conversions, and Sales of Assets
Section 10.001. Adoption of Plan of Merger
Section 10.002. Plan of Merger: Required Provisions
Section 10.003. Contents of Plan of Merger: More Than One Successor
Section 10.004. Plan of Merger: Permissive Provisions
Section 10.005. Creation of Holding Company by Merger
Section 10.006. Short Form Merger
Section 10.007. Effectiveness of Merger
Section 10.008. Effect of Merger
Section 10.009. Special Provisions Applying to Partnership Mergers