Sec. 21.951. LAW APPLICABLE TO PUBLIC BENEFIT CORPORATIONS; FORMATION. (a) A for-profit corporation may elect under Section 3.007(e) to be a public benefit corporation that is governed by this subchapter.
(b) If a corporation elects to be a public benefit corporation, the corporation is subject to the other provisions of this chapter and other provisions of this code applicable to for-profit corporations.
(c) To the extent of a conflict between this subchapter and another provision of this chapter or another provision of this code applicable to for-profit corporations, this subchapter controls.
Added by Acts 2017, 85th Leg., R.S., Ch. 776 (H.B. 3488), Sec. 4, eff. September 1, 2017.
Structure Texas Statutes
Chapter 21 - For-Profit Corporations
Subchapter S. Public Benefit Corporations
Section 21.951. Law Applicable to Public Benefit Corporations; Formation
Section 21.953. Purpose of Public Benefit Corporation; Name of Corporation
Section 21.954. Certain Amendments, Mergers, Exchanges, and Conversions; Voter Approval Required
Section 21.955. Stock Certificates; Notices Regarding Uncertificated Stock
Section 21.956. Duties of Directors
Section 21.957. Periodic Statements