Sec. 2001.432. FORMING ACCOUNTING UNIT. (a) Two or more licensed authorized organizations may form and operate a unit as provided by this subchapter by:
(1) executing a unit accounting agreement; and
(2) stating in the unit accounting agreement whether the unit will use:
(A) a unit manager; or
(B) a designated agent.
(b) More than one unit may be formed at a single location. A licensed authorized organization may not be a member of more than one unit.
(c) This subchapter does not require a licensed authorized organization to join a unit. Except as provided by Subsection (d), whether to join or withdraw from a unit is at the discretion of each licensed authorized organization.
(d) The members of a unit may determine whether to allow another licensed authorized organization to join the unit. The terms of the withdrawal of a member from the unit are governed by the unit accounting agreement.
Added by Acts 2003, 78th Leg., ch. 1114, Sec. 19, eff. Sept. 1, 2003.
Structure Texas Statutes
Title 13 - Sports, Amusements, and Entertainment
Subchapter I. -1. Unit Accounting
Section 2001.432. Forming Accounting Unit
Section 2001.433. Applicability of Chapter
Section 2001.4335. Exemption From Franchise Tax
Section 2001.434. Conduct of Bingo
Section 2001.435. Unit Accounting
Section 2001.436. Disbursement of Funds by Dissolved Unit
Section 2001.437. Unit Manager