Sec. 23.064. POWERS OF SHAREHOLDERS AND MEMBERS. The shareholders and members of a corporation may:
(1) determine the number of directors and elect the directors as provided by Section 23.058;
(2) make, amend, and repeal bylaws of the corporation; or
(3) exercise any other power of the corporation that is conferred on the shareholders and members by the bylaws.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Chapter 23 - Special-Purpose Corporations
Subchapter B. Business Development Corporations
Section 23.056. Certificate of Formation
Section 23.057. Management by Board of Directors; Number of Directors
Section 23.058. Election or Appointment of Directors
Section 23.059. Term of Office; Vacancy
Section 23.061. Participation as Owner
Section 23.062. Financial Institution as Member of Corporation
Section 23.063. Withdrawal of Member
Section 23.064. Powers of Shareholders and Members
Section 23.065. Voting by Shareholder or Member
Section 23.066. Loan to Corporation
Section 23.067. Prohibited Loan
Section 23.071. Annual Report; Provision of Required Information