Sec. 302.011. DIVISION OF PROFITS. The members of a professional association shall divide the profits derived from the association in the manner provided by the governing documents of the association.
Acts 2003, 78th Leg., ch. 182, Sec. 1, eff. Jan. 1, 2006.
Structure Texas Statutes
Title 7 - Professional Entities
Chapter 302 - Provisions Relating to Professional Associations
Section 302.001. Applicability of Certain Provisions Governing For-Profit Corporations
Section 302.002. Duration of Professional Association
Section 302.003. Amendment of Certificate of Formation
Section 302.004. Adoption of Bylaws; Delegation of Authority
Section 302.005. Governing Authority
Section 302.006. Members' Voting Rights
Section 302.007. Election of Officers
Section 302.008. Officer and Governing Person Eligibility Requirements
Section 302.009. Employment of Agents and Employees
Section 302.010. Limitation on Member's Power to Bind Association
Section 302.011. Division of Profits
Section 302.013. Winding Up and Termination; Certificate of Termination