Sec. 21.362. CUMULATIVE VOTING RIGHT IN CERTAIN CORPORATIONS. Except as provided by the corporation's certificate of formation, a shareholder of a corporation incorporated before September 1, 2003, has the right to cumulatively vote the number of shares the shareholder owns in the election of directors to the extent permitted and in the manner provided by Section 21.361. A corporation may limit or deny a shareholder's right to cumulatively vote shares at any time after September 1, 2003, by amending its certificate of formation.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Amended by:
Acts 2005, 79th Leg., Ch. 64 (H.B. 1319), Sec. 54, eff. January 1, 2006.
Structure Texas Statutes
Chapter 21 - For-Profit Corporations
Subchapter H. Shareholders' Meetings; Notice to Shareholders; Voting and Quorum
Section 21.351. Annual Meeting
Section 21.352. Special Meetings
Section 21.3521. Shareholder Meetings by Remote Communication
Section 21.353. Notice of Meeting
Section 21.3531. Notice by Electronic Transmission
Section 21.354. Inspection of Voting List
Section 21.355. Closing of Share Transfer Records
Section 21.356. Record Date for Written Consent to Action
Section 21.357. Record Date for Purpose of Shareholders' Meeting
Section 21.359. Voting in Election of Directors
Section 21.360. No Cumulative Voting Right Unless Authorized
Section 21.361. Cumulative Voting in Election of Directors
Section 21.362. Cumulative Voting Right in Certain Corporations
Section 21.363. Voting on Matters Other Than Election of Directors
Section 21.364. Vote Required to Approve Fundamental Action
Section 21.365. Changes in Vote Required for Certain Matters
Section 21.366. Number of Votes per Share
Section 21.367. Voting in Person or by Proxy
Section 21.369. Revocability of Proxy
Section 21.370. Enforceability of Proxy