Sec. 21.759. RIGHTS AND POWERS OF PROVISIONAL DIRECTOR. A provisional director has all the rights and powers of an elected director of the close corporation, or the rights of vote or consent of a shareholder and other rights and powers of shareholders or other persons who have been empowered to manage the business and affairs of the close corporation under a shareholders' agreement with the voting power provided by court order, including the right to notice of, and to vote at, meetings of directors or shareholders.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 21 - For-Profit Corporations
Subchapter P. Judicial Proceedings Relating to Close Corporation
Section 21.752. Proceedings Authorized
Section 21.753. Notice; Intervention
Section 21.754. Proceeding Nonexclusive
Section 21.755. Unavailability of Judicial Proceeding
Section 21.756. Judicial Proceeding to Enforce Close Corporation Provision
Section 21.757. Liquidation; Involuntary Winding Up and Termination; Receivership
Section 21.758. Appointment of Provisional Director
Section 21.759. Rights and Powers of Provisional Director
Section 21.760. Compensation of Provisional Director
Section 21.761. Appointment of Custodian